# EDGAR Filing Document

**Accession Number:** 0001438893
**File Stem:** 0000940400-26-009532
**Filing Date:** 2026-3
**Character Count:** 98569
**Document Hash:** c5dea036874d80f3449965b636e896b6
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-009532.hdr.sgml**: 20260302

**ACCESSION NUMBER**: 0000940400-26-009532

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260302

**DATE AS OF CHANGE**: 20260302

**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:** 26704013

**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:** 2025-12-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $172640904.45

**Total Liabilities:** $38874170.94

**Net Assets:** $133766733.51

**Cash Not Reported:** $2520512.69

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000000000 | -1.99%               | 6.76%                | 3.40%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $2013390.69              | $-5843501.51                               |
| Month 2  | $1748533.65              | $9198773.83                                |
| Month 3  | $4914274.13              | $-4104806.95                               |

**Designated Index Information**

- **Index Name:** GAMCO Natural Resources Gold & Income Trust_Ex Derivatives BM

- **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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ROTH CAPITAL PARTNERS, LLC               | WILLIAMS COS INC/THE                       | CUSIP: 000000000<br>LEI: 549300FMF3TPT1HFRF48 | N/A              | DE               | CORP              | US        |       -80 | NC      | $-5115.24     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                 | FREEPORT-MCMORAN INC                       | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               | CORP              | US        |      -268 | NC      | $-212709.48   | -0.16%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                 | KINDER MORGAN INC                          | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               | CORP              | US        |      -132 | NC      | $-206.57      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| OPPENHEIMER & CO. INC.                   | PAN AMERICAN SILVER CORP                   | CUSIP: 000000000<br>LEI: 254900VH02JQR2L8XD64 | N/A              | DE               | CORP              | US        |       -89 | NC      | $-36193.20    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| STIFEL, NICOLAUS & COMPANY, INCORPORATED | RIO TINTO PLC                              | CUSIP: 000000000<br>LEI: 5WUVMA08EYG4KEUPW589 | N/A              | DE               | CORP              | US        |      -150 | NC      | $-153473.99   | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| STIFEL, NICOLAUS & COMPANY, INCORPORATED | KINROSS GOLD CORP                          | CUSIP: 000000000<br>LEI: 5WUVMA08EYG4KEUPW589 | N/A              | DE               | CORP              | US        |      -457 | NC      | $-148125.35   | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| EVERCORE GROUP L.L.C.                    | DIAMONDBACK ENERGY INC                     | CUSIP: 000000000<br>LEI: 5493008F0LRLS5N8LZ81 | N/A              | DE               | CORP              | US        |       -12 | NC      | $-7643.74     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| PIPER SANDLER COMPANIES                  | PAN AMERICAN SILVER CORP                   | CUSIP: 000000000<br>LEI: QUQDBTUSOAKFEVMRMF78 | N/A              | DE               | CORP              | US        |       -52 | NC      | $-89853.82    | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| CIBC WORLD MARKETS CORP.                 | TYSON FOODS INC                            | CUSIP: 000000000<br>LEI: 549300445CON3DBMU275 | N/A              | DE               | CORP              | US        |      -130 | NC      | $-53993.56    | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                  | LUNDIN GOLD INC                            | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DE               | CORP              | US        |      -180 | NC      | $-597385.35   | -0.45%            |  |  |  | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.          | ELANCO ANIMAL HEALTH INC                   | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -161 | NC      | $-18998.00    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS INC.            | FMC CORP                                   | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | N/A              | DE               | CORP              | US        |       -65 | NC      | $-20.50       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.          | IAMGOLD CORP                               | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -320 | NC      | $-208000.00   | -0.16%            |  |  |  | No            |                  1 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.          | ZOETIS INC                                 | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |       -61 | NC      | $-3050.00     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| WELLS FARGO SECURITIES, LLC              | BUNGE GLOBAL SA                            | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | N/A              | DE               | CORP              | US        |       -50 | NC      | $-2631.81     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MERRILL LYNCH INTERNATIONAL              | MARATHON PETROLEUM CORP                    | CUSIP: 000000000<br>LEI: GGDZP1UYGU9STUHRDP48 | N/A              | DE               | CORP              | GB        |       -24 | NC      | $-27977.21    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| PIPER SANDLER COMPANIES                  | CF INDUSTRIES HOLDINGS INC                 | CUSIP: 000000000<br>LEI: QUQDBTUSOAKFEVMRMF78 | N/A              | DE               | CORP              | US        |       -60 | NC      | $-2601.26     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| SG AMERICAS SECURITIES, LLC              | WHEATON PRECIOUS METALS CORP               | CUSIP: 000000000<br>LEI: 549300F35UE0BOM1WJ55 | N/A              | DE               | CORP              | US        |       -14 | NC      | $-7471.21     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| STRATEGAS SECURITIES, LLC                | TARGA RESOURCES CORP                       | CUSIP: 000000000<br>LEI: 254900D5NQ2O9DJLKH96 | N/A              | DE               | CORP              | US        |       -16 | NC      | $-14670.49    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| PIPER SANDLER COMPANIES                  | ARCHER-DANIELS-MIDLAND CO                  | CUSIP: 000000000<br>LEI: QUQDBTUSOAKFEVMRMF78 | N/A              | DE               | CORP              | US        |      -161 | NC      | $-11483.39    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| RAYMOND JAMES & ASSOCIATES, INC.         | DEERE & CO                                 | CUSIP: 000000000<br>LEI: U4ONQX15J3RO8XCKE979 | N/A              | DE               | CORP              | US        |        -4 | NC      | $-194.04      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                  | K92 MINING INC                             | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DE               | CORP              | US        |      -380 | NC      | $-32721.39    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| OPPENHEIMER & CO. INC.                   | TORO CO/THE                                | CUSIP: 000000000<br>LEI: 254900VH02JQR2L8XD64 | N/A              | DE               | CORP              | US        |       -45 | NC      | $-11941.76    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| WELLS FARGO SECURITIES, LLC              | KINDER MORGAN INC                          | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | N/A              | DE               | CORP              | US        |      -137 | NC      | $-10133.07    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| STIFEL, NICOLAUS & COMPANY, INCORPORATED | STATE STREET ENERGY SELECT SECTOR SPDR ETF | CUSIP: 000000000<br>LEI: 5WUVMA08EYG4KEUPW589 | N/A              | DE               | CORP              | US        |      -456 | NC      | $-35273.88    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| OPPENHEIMER & CO. INC.                   | MARATHON PETROLEUM CORP                    | CUSIP: 000000000<br>LEI: 254900VH02JQR2L8XD64 | N/A              | DE               | CORP              | US        |       -21 | NC      | $-3562.94     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS INC.            | TOTALENERGIES SE                           | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | N/A              | DE               | CORP              | US        |       -73 | NC      | $-11321.69    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| STRATEGAS SECURITIES, LLC                | SLB LTD                                    | CUSIP: 000000000<br>LEI: 254900D5NQ2O9DJLKH96 | N/A              | DE               | CORP              | US        |       -79 | NC      | $-18222.05    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| STIFEL, NICOLAUS & COMPANY, INCORPORATED | DEERE & CO                                 | CUSIP: 000000000<br>LEI: 5WUVMA08EYG4KEUPW589 | N/A              | DE               | CORP              | US        |       -26 | NC      | $-44678.59    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| STRATEGAS SECURITIES, LLC                | WHEATON PRECIOUS METALS CORP               | CUSIP: 000000000<br>LEI: 254900D5NQ2O9DJLKH96 | N/A              | DE               | CORP              | US        |      -112 | NC      | $-132848.32   | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS, LLC                 | EQT CORP                                   | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | N/A              | DE               | CORP              | US        |       -40 | NC      | $-15007.62    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| CIBC WORLD MARKETS CORP.                 | SHELL PLC                                  | CUSIP: 000000000<br>LEI: 549300445CON3DBMU275 | N/A              | DE               | CORP              | US        |       -96 | NC      | $-7568.12     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| RAYMOND JAMES & ASSOCIATES, INC.         | ONEOK INC                                  | CUSIP: 000000000<br>LEI: U4ONQX15J3RO8XCKE979 | N/A              | DE               | CORP              | US        |       -30 | NC      | $-4454.32     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| STIFEL, NICOLAUS & COMPANY, INCORPORATED | COTERRA ENERGY INC                         | CUSIP: 000000000<br>LEI: 5WUVMA08EYG4KEUPW589 | N/A              | DE               | CORP              | US        |       -60 | NC      | $-3578.37     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.          | VANECK GOLD MINERS ETF/USA                 | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -555 | NC      | $-120435.00   | -0.09%            |  |  |  | No            |                  1 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                  | DPM METALS INC                             | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DE               | CORP              | US        |      -190 | NC      | $-26191.62    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| WELLS FARGO SECURITIES, LLC              | DIAMONDBACK ENERGY INC                     | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | N/A              | DE               | CORP              | US        |       -13 | NC      | $-1397.87     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                  | ENDEAVOUR MINING PLC                       | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DE               | CORP              | US        |      -192 | NC      | $-104600.70   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| CANTOR FITZGERALD & CO.                  | HALLIBURTON CO                             | CUSIP: 000000000<br>LEI: 5493004J7H4GCPG6OB62 | N/A              | DE               | CORP              | US        |       -52 | NC      | $-21474.43    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| OPPENHEIMER & CO. INC.                   | VALERO ENERGY CORP                         | CUSIP: 000000000<br>LEI: 254900VH02JQR2L8XD64 | N/A              | DE               | CORP              | US        |       -22 | NC      | $-8888.85     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| PIPER SANDLER COMPANIES                  | DEERE & CO                                 | CUSIP: 000000000<br>LEI: QUQDBTUSOAKFEVMRMF78 | N/A              | DE               | CORP              | US        |       -22 | NC      | $-1067.23     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                  | K92 MINING INC                             | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DE               | CORP              | US        |      -271 | NC      | $-23670.80    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| STRATEGAS SECURITIES, LLC                | PHILLIPS 66                                | CUSIP: 000000000<br>LEI: 254900D5NQ2O9DJLKH96 | N/A              | DE               | CORP              | US        |       -22 | NC      | $-16414.42    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| MERRILL LYNCH INTERNATIONAL              | BHP GROUP LTD                              | CUSIP: 000000000<br>LEI: GGDZP1UYGU9STUHRDP48 | N/A              | DE               | CORP              | GB        |      -170 | NC      | $-25453.91    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| EVERCORE GROUP L.L.C.                    | PHILLIPS 66                                | CUSIP: 000000000<br>LEI: 5493008F0LRLS5N8LZ81 | N/A              | DE               | CORP              | US        |       -22 | NC      | $-8940.74     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| PIPER SANDLER COMPANIES                  | WILLIAMS COS INC/THE                       | CUSIP: 000000000<br>LEI: QUQDBTUSOAKFEVMRMF78 | N/A              | DE               | CORP              | US        |       -78 | NC      | $-14499.27    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS INC.            | TOTALENERGIES SE                           | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | N/A              | DE               | CORP              | US        |       -71 | NC      | $-2897.60     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| WELLS FARGO SECURITIES, LLC              | SLB LTD                                    | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | N/A              | DE               | CORP              | US        |       -84 | NC      | $-1503.88     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| PIPER SANDLER COMPANIES                  | CORTEVA INC                                | CUSIP: 000000000<br>LEI: QUQDBTUSOAKFEVMRMF78 | N/A              | DE               | CORP              | US        |      -135 | NC      | $-6075.88     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| RAYMOND JAMES & ASSOCIATES, INC.         | EQT CORP                                   | CUSIP: 000000000<br>LEI: U4ONQX15J3RO8XCKE979 | N/A              | DE               | CORP              | US        |       -42 | NC      | $-3299.93     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ROTH CAPITAL PARTNERS, LLC               | CORTEVA INC                                | CUSIP: 000000000<br>LEI: 549300FMF3TPT1HFRF48 | N/A              | DE               | CORP              | US        |      -150 | NC      | $-18984.92    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                 | MOWI ASA                                   | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               | CORP              | US        |      -240 | NC      | $-16260.42    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| OPPENHEIMER & CO. INC.                   | EQT CORP                                   | CUSIP: 000000000<br>LEI: 254900VH02JQR2L8XD64 | N/A              | DE               | CORP              | US        |       -48 | NC      | $-12965.64    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                 | NEWMONT CORP                               | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               | CORP              | US        |       -82 | NC      | $-163744.68   | -0.12%            |  |  |  | No            |                  2 | On Loan: No      |
| STRATEGAS SECURITIES, LLC                | BP PLC                                     | CUSIP: 000000000<br>LEI: 254900D5NQ2O9DJLKH96 | N/A              | DE               | CORP              | US        |       -41 | NC      | $-1498.09     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                  | DPM METALS INC                             | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DE               | CORP              | US        |      -185 | NC      | $-102103.79   | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| RAYMOND JAMES & ASSOCIATES, INC.         | ZOETIS INC                                 | CUSIP: 000000000<br>LEI: U4ONQX15J3RO8XCKE979 | N/A              | DE               | CORP              | US        |       -60 | NC      | $-5756.90     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MERRILL LYNCH INTERNATIONAL              | SLB LTD                                    | CUSIP: 000000000<br>LEI: GGDZP1UYGU9STUHRDP48 | N/A              | DE               | CORP              | GB        |       -85 | NC      | $-12831.95    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| STRATEGAS SECURITIES, LLC                | PHILLIPS 66                                | CUSIP: 000000000<br>LEI: 254900D5NQ2O9DJLKH96 | N/A              | DE               | CORP              | US        |       -28 | NC      | $-4106.38     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                 | STATE STREET ENERGY SELECT SECTOR SPDR ETF | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               | CORP              | US        |      -550 | NC      | $-9027.54     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                 | ENI SPA                                    | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               | CORP              | US        |       -23 | NC      | $-5159.50     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                 | BAKER HUGHES CO                            | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               | CORP              | US        |       -70 | NC      | $-9034.07     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| EVERCORE GROUP L.L.C.                    | OCCIDENTAL PETROLEUM CORP                  | CUSIP: 000000000<br>LEI: 5493008F0LRLS5N8LZ81 | N/A              | DE               | CORP              | US        |       -20 | NC      | $-638.89      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| WELLS FARGO SECURITIES, LLC              | BHP GROUP LTD                              | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | N/A              | DE               | CORP              | US        |      -100 | NC      | $-42445.32    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC               | EXXON MOBIL CORP                           | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DE               | CORP              | US        |       -62 | NC      | $-65641.14    | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| OPPENHEIMER & CO. INC.                   | SUNCOR ENERGY INC                          | CUSIP: 000000000<br>LEI: 254900VH02JQR2L8XD64 | N/A              | DE               | CORP              | US        |       -35 | NC      | $-12739.65    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                 | GLENCORE PLC                               | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               | CORP              | US        |       -36 | NC      | $-13452.19    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS, LLC                 | EXXON MOBIL CORP                           | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | N/A              | DE               | CORP              | US        |      -142 | NC      | $-66788.49    | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| MERRILL LYNCH INTERNATIONAL              | SHELL PLC                                  | CUSIP: 000000000<br>LEI: GGDZP1UYGU9STUHRDP48 | N/A              | DE               | CORP              | GB        |       -90 | NC      | $-14980.25    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| WELLS FARGO SECURITIES, LLC              | RIO TINTO PLC                              | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | N/A              | DE               | CORP              | US        |      -170 | NC      | $-224990.90   | -0.17%            |  |  |  | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC               | CONOCOPHILLIPS                             | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DE               | CORP              | US        |       -41 | NC      | $-11900.24    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| OPPENHEIMER & CO. INC.                   | DARLING INGREDIENTS INC                    | CUSIP: 000000000<br>LEI: 254900VH02JQR2L8XD64 | N/A              | DE               | CORP              | US        |       -70 | NC      | $-19908.83    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| OPPENHEIMER & CO. INC.                   | BUNGE GLOBAL SA                            | CUSIP: 000000000<br>LEI: 254900VH02JQR2L8XD64 | N/A              | DE               | CORP              | US        |       -50 | NC      | $-15574.71    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| RAYMOND JAMES & ASSOCIATES, INC.         | CNH INDUSTRIAL NV                          | CUSIP: 000000000<br>LEI: U4ONQX15J3RO8XCKE979 | N/A              | DE               | CORP              | US        |      -400 | NC      | $-5631.84     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.          | VANECK GOLD MINERS ETF/USA                 | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -270 | NC      | $-76140.00    | -0.06%            |  |  |  | No            |                  1 | On Loan: No      |
| BMO NESBITT BURNS INC.                   | BARRICK MINING CORP                        | CUSIP: 000000000<br>LEI: M3LKFDNSJGJ7TMLH6Z15 | N/A              | DE               | CORP              | CA        |      -165 | NC      | $-52432.17    | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| RAYMOND JAMES & ASSOCIATES, INC.         | EOG RESOURCES INC                          | CUSIP: 000000000<br>LEI: U4ONQX15J3RO8XCKE979 | N/A              | DE               | CORP              | US        |       -36 | NC      | $-6727.74     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| WELLS FARGO SECURITIES, LLC              | HALLIBURTON CO                             | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | N/A              | DE               | CORP              | US        |       -50 | NC      | $-22690.45    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.          | ELDORADO GOLD CORP                         | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |       -13 | NC      | $-4160.00     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| RAYMOND JAMES & ASSOCIATES, INC.         | DEERE & CO                                 | CUSIP: 000000000<br>LEI: U4ONQX15J3RO8XCKE979 | N/A              | DE               | CORP              | US        |       -26 | NC      | $-20561.59    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                  | BAKER HUGHES CO                            | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DE               | CORP              | US        |       -47 | NC      | $-17934.02    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| OPPENHEIMER & CO. INC.                   | ZOETIS INC                                 | CUSIP: 000000000<br>LEI: 254900VH02JQR2L8XD64 | N/A              | DE               | CORP              | US        |       -61 | NC      | $-15883.41    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                  | OCEANAGOLD CORP                            | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DE               | CORP              | US        |      -130 | NC      | $-12775.00    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| OPPENHEIMER & CO. INC.                   | BP PLC                                     | CUSIP: 000000000<br>LEI: 254900VH02JQR2L8XD64 | N/A              | DE               | CORP              | US        |       -93 | NC      | $-1871.49     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| STRATEGAS SECURITIES, LLC                | SUNCOR ENERGY INC                          | CUSIP: 000000000<br>LEI: 254900D5NQ2O9DJLKH96 | N/A              | DE               | CORP              | US        |       -35 | NC      | $-14026.03    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS, LLC                 | BP PLC                                     | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | N/A              | DE               | CORP              | US        |       -93 | NC      | $-24897.99    | -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      | $-452154.52   | -0.34%            |  |  |  | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.          | VANECK GOLD MINERS ETF/USA                 | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -320 | NC      | $-640.00      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                  | WESDOME GOLD MINES LTD                     | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DE               | CORP              | US        |      -200 | NC      | $-7743.73     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| OPPENHEIMER & CO. INC.                   | TARGA RESOURCES CORP                       | CUSIP: 000000000<br>LEI: 254900VH02JQR2L8XD64 | N/A              | DE               | CORP              | US        |       -13 | NC      | $-15485.64    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| OPPENHEIMER & CO. INC.                   | DARLING INGREDIENTS INC                    | CUSIP: 000000000<br>LEI: 254900VH02JQR2L8XD64 | N/A              | DE               | CORP              | US        |       -70 | NC      | $-615.73      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CANTOR FITZGERALD & CO.                  | SHELL PLC                                  | CUSIP: 000000000<br>LEI: 5493004J7H4GCPG6OB62 | N/A              | DE               | CORP              | US        |      -106 | NC      | $-14983.10    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| UBS SECURITIES LLC                       | CF INDUSTRIES HOLDINGS INC                 | CUSIP: 000000000<br>LEI: T6FIZBDPKLYJKFCRVK44 | N/A              | DE               | CORP              | US        |       -65 | NC      | $-0.64        | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Americas Gold & Silver Corp              | Americas Gold & Silver Corp                | CUSIP: 03062D803<br>LEI: 5493005AKGOT669Z4P51 | Long             | EC               | CORP              | CA        |    248000 | NS      | $1272026.52   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                            | United States Treasury Bill                | CUSIP: 912797QD2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    200000 | PA      | $197967.52    | 0.15%             | 2026-04-16      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Newmont Corp                             | Newmont Corp                               | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |     56700 | NS      | $5661495.00   | 4.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Yara International ASA                   | Yara International ASA                     | CUSIP: 000000000<br>LEI: 213800WKOUWXWFJ5Z514 | Long             | EC               | CORP              | NO        |      8900 | NS      | $365535.71    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Rio Tinto PLC                            | Rio Tinto PLC                              | CUSIP: 767204100<br>LEI: 213800YOEO5OQ72G2R82 | Long             | EC               | CORP              | GB        |     44900 | NS      | $3593347.00   | 2.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Mowi ASA                                 | Mowi ASA                                   | CUSIP: 000000000<br>LEI: 549300W1OGQF5LZIH349 | Long             | EC               | CORP              | NO        |     70500 | NS      | $1700952.38   | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Aris Mining Corp                         | Aris Mining Corp                           | CUSIP: 04040Y109<br>LEI: 5493001GJ5TILX6L1F82 | Long             | EC               | CORP              | CA        |     27500 | NS      | $445994.68    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| RBC CAPITAL MARKETS, LLC                 | CHEVRON CORP                               | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | N/A              | DE               | CORP              | US        |       -34 | NC      | $-18097.31    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| BP PLC                                   | BP PLC                                     | CUSIP: 055622104<br>LEI: 213800LH1BZH3DI6G760 | Long             | EC               | CORP              | GB        |     30200 | NS      | $1048846.00   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Devon Energy Corp                        | Devon Energy Corp                          | CUSIP: 25179M103<br>LEI: 54930042348RKR3ZPN35 | Long             | EC               | CORP              | US        |     10000 | NS      | $366300.00    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Diamondback Energy Inc                   | Diamondback Energy Inc                     | CUSIP: 25278X109<br>LEI: 549300R22LSX6OHWEN64 | Long             | EC               | CORP              | US        |      4000 | NS      | $601320.00    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Westgold Resources Ltd                   | Westgold Resources Ltd                     | CUSIP: 000000000<br>LEI: 2549003AMX9BL7CKBQ74 | Long             | EC               | CORP              | AU        |    712417 | NS      | $3061778.76   | 2.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Eni SpA                                  | Eni SpA                                    | CUSIP: 000000000<br>LEI: BUCRF72VH5RBN7X3VL35 | Long             | EC               | CORP              | IT        |     34000 | NS      | $644902.75    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Glencore PLC                             | Glencore PLC                               | CUSIP: 000000000<br>LEI: 2138002658CPO9NBH955 | Long             | EC               | CORP              | CH        |     71000 | NS      | $389086.44    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                            | United States Treasury Bill                | CUSIP: 912797SG3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1560000 | PA      | $1557243.21   | 1.16%             | 2026-01-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Alamos Gold Inc                          | Alamos Gold Inc                            | CUSIP: 011532108<br>LEI: 894500GIHFJZW7YS9660 | Long             | EC               | CORP              | CA        |     77100 | NS      | $2974518.00   | 2.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Evolution Mining Ltd                     | Evolution Mining Ltd                       | CUSIP: 000000000<br>LEI: 254900BCFW5QO5LW8F27 | Long             | EC               | CORP              | AU        |    224582 | NS      | $1900412.43   | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Orla Mining Ltd                          | Orla Mining Ltd                            | CUSIP: 68634K106<br>LEI: 529900DU63EUQ1UZKL30 | Long             | EC               | CORP              | CA        |     93200 | NS      | $1255404.00   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                 | TOTALENERGIES SE                           | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               | CORP              | US        |       -80 | NC      | $-11963.42    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                 | MOWI ASA                                   | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               | CORP              | US        |      -220 | NC      | $-86810.85    | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| Endeavour Mining PLC                     | Endeavour Mining PLC                       | CUSIP: 000000000<br>LEI: 529900NI5MXQ91GHXR07 | Long             | EC               | CORP              | GB        |     65285 | NS      | $3361876.65   | 2.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Coterra Energy Inc                       | Coterra Energy Inc                         | CUSIP: 127097103<br>LEI: FCNMH6O7VWU7LHXMK351 | Long             | EC               | CORP              | US        |     18100 | NS      | $476392.00    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Wesdome Gold Mines Ltd                   | Wesdome Gold Mines Ltd                     | CUSIP: 95083R100<br>LEI: 254900D63U62QS84H719 | Long             | EC               | CORP              | CA        |     78500 | NS      | $1300564.64   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Toro Co/The                              | Toro Co/The                                | CUSIP: 891092108<br>LEI: YJKE4YIT6BWQHVEW0D14 | Long             | EC               | CORP              | US        |      9000 | NS      | $708480.00    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Artemis Gold Inc                         | Artemis Gold Inc                           | CUSIP: 04302L100<br>LEI: 529900GXBX7DGL5YMO49 | Long             | EC               | CORP              | CA        |     70000 | NS      | $1871188.66   | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| ALLIED GOLD CORP                         | Allied Gold Corp                           | CUSIP: 01921DAA3<br>LEI: 894500S5G4JFSRGK8L37 | Long             | DBT              | CORP              | CA        |    750000 | PA      | $675000.00    | 0.50%             | 2028-09-07      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| Eldorado Gold Corp                       | Eldorado Gold Corp                         | CUSIP: 284902509<br>LEI: 5493004PWQ01YDD1IH62 | Long             | EC               | CORP              | CA        |     55200 | NS      | $1982784.00   | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| IAMGOLD Corp                             | IAMGOLD Corp                               | CUSIP: 450913108<br>LEI: 254900E7II30XAB9LA72 | Long             | EC               | CORP              | CA        |    110800 | NS      | $1827092.00   | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Montage Gold Corp                        | Montage Gold Corp                          | CUSIP: 61178L101<br>LEI: 9845004C6BCE77ACA795 | Long             | EC               | CORP              | CA        |     60000 | NS      | $431896.83    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Aya Gold & Silver Inc                    | Aya Gold & Silver Inc                      | CUSIP: 05466C109<br>LEI: 549300BWX8KJOTUL4M51 | Long             | EC               | CORP              | CA        |     24000 | NS      | $343419.18    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                  | K92 MINING INC                             | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DE               | CORP              | US        |      -540 | NC      | $-269494.44   | -0.20%            |  |  |  | No            |                  2 | On Loan: No      |
| TREASURY BILL                            | United States Treasury Bill                | CUSIP: 912797RV1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    225000 | PA      | $223633.48    | 0.17%             | 2026-03-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Gold Fields Ltd                          | Gold Fields Ltd                            | CUSIP: 38059T106<br>LEI: 5299003KXIBJQYCBBD72 | Long             | EC               | CORP              | ZA        |     17400 | NS      | $759684.00    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Pan American Silver Corp                 | Pan American Silver Corp                   | CUSIP: 697900108<br>LEI: 549300MKTF5851TYIB83 | Long             | EC               | CORP              | CA        |     29500 | NS      | $1528395.00   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| FREEPORT-MCMORAN INC                     | Freeport-McMoRan Inc                       | CUSIP: 35671DCE3<br>LEI: 549300IRDTHJQ1PVET45 | Long             | DBT              | CORP              | US        |    750000 | PA      | $748397.48    | 0.56%             | 2028-03-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| OceanaGold Corp                          | OceanaGold Corp                            | CUSIP: 675222400<br>LEI: 549300CBMSE8I9N3E232 | Long             | EC               | CORP              | CA        |     45366 | NS      | $1285736.33   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| KINROSS GOLD CORP                        | Kinross Gold Corp                          | CUSIP: 496902AR8<br>LEI: 254900O9KHF2A1ZXPT47 | Long             | DBT              | CORP              | CA        |   1300000 | PA      | $1421258.10   | 1.06%             | 2033-07-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| G Mining Ventures Corp                   | G Mining Ventures Corp                     | CUSIP: 36270K102<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |     63750 | NS      | $1927060.94   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| APA Corp                                 | APA Corp                                   | CUSIP: 03743Q108<br>LEI: 549300VCIWLRHYVSHC79 | Long             | EC               | CORP              | US        |      6800 | NS      | $166328.00    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Bunge Global SA                          | Bunge Global SA                            | CUSIP: 000000000<br>LEI: 254900IVXSV9K0B7PO26 | Long             | EC               | CORP              | US        |     15000 | NS      | $1336200.00   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Deere & Co                               | Deere & Co                                 | CUSIP: 244199105<br>LEI: PWFTNG3EI0Y73OXWDH08 | Long             | EC               | CORP              | US        |      7800 | NS      | $3631446.00   | 2.71%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.          | KINROSS GOLD CORP /OLD                     | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -785 | NC      | $-514175.00   | -0.38%            |  |  |  | No            |                  1 | On Loan: No      |
| Valero Energy Corp                       | Valero Energy Corp                         | CUSIP: 91913Y100<br>LEI: 549300XTO5VR8SKV1V74 | Long             | EC               | CORP              | US        |      6500 | NS      | $1058135.00   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Occidental Petroleum Corp                | Occidental Petroleum Corp                  | CUSIP: 674599105<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | EC               | CORP              | US        |      6700 | NS      | $275504.00    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| EQT Corp                                 | EQT Corp                                   | CUSIP: 26884L109<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | EC               | CORP              | US        |     13000 | NS      | $696800.00    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Zoetis Inc                               | Zoetis Inc                                 | CUSIP: 98978V103<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | EC               | CORP              | US        |     18200 | NS      | $2289924.00   | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| DPM Metals Inc                           | DPM Metals Inc                             | CUSIP: 26139R109<br>LEI: 549300LATVTU0EIUMD45 | Long             | EC               | CORP              | CA        |     58500 | NS      | $1807999.71   | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Expand Energy Corp                       | Expand Energy Corp                         | CUSIP: 165167735<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | EC               | CORP              | US        |      4400 | NS      | $485584.00    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Tyson Foods Inc                          | Tyson Foods Inc                            | CUSIP: 902494103<br>LEI: WD6L6041MNRW1JE49D58 | Long             | EC               | CORP              | US        |     35600 | NS      | $2086872.00   | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Anglogold Ashanti Plc                    | Anglogold Ashanti Plc                      | CUSIP: 000000000<br>LEI: 2138005YDSA7A82RNU96 | Long             | EC               | CORP              | GB        |     22756 | NS      | $1940631.68   | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinross Gold Corp                        | Kinross Gold Corp                          | CUSIP: 496902404<br>LEI: 254900O9KHF2A1ZXPT47 | Long             | EC               | CORP              | CA        |    178700 | NS      | $5032192.00   | 3.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Royal Gold Inc                           | Royal Gold Inc                             | CUSIP: 780287108<br>LEI: 5493001NGRU6SFL04184 | Long             | EC               | CORP              | US        |      7415 | NS      | $1648280.35   | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| RBC CAPITAL MARKETS, LLC                 | ORLA MINING LTD                            | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | N/A              | DE               | CORP              | US        |      -385 | NC      | $-28815.40    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| TREASURY BILL                            | United States Treasury Bill                | CUSIP: 912797SV0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2750000 | PA      | $2712863.34   | 2.03%             | 2026-05-21      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Freeport-McMoRan Inc                     | Freeport-McMoRan Inc                       | CUSIP: 35671D857<br>LEI: 549300IRDTHJQ1PVET45 | Long             | EC               | CORP              | US        |     79800 | NS      | $4053042.00   | 3.03%             |  |  |  | No            |                  1 | On Loan: No      |
| HECLA MINING CO                          | Hecla Mining Co                            | CUSIP: 422704AH9<br>LEI: 5493009Y6HOBZD1QD537 | Long             | DBT              | CORP              | US        |    374000 | PA      | $376717.11    | 0.28%             | 2028-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| CNH Industrial NV                        | CNH Industrial NV                          | CUSIP: 000000000<br>LEI: 549300WGC2HZ5J67V817 | Long             | EC               | CORP              | GB        |     80500 | NS      | $742210.00    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| NORTHERN STAR RESOU                      | Northern Star Resources Ltd                | CUSIP: 66573RAA6<br>LEI: 254900XFXCRYYZAX6M78 | Long             | DBT              | CORP              | AU        |   1750000 | PA      | $1860408.69   | 1.39%             | 2033-04-11      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| ConocoPhillips                           | ConocoPhillips                             | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |     11200 | NS      | $1048432.00   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Elanco Animal Health Inc                 | Elanco Animal Health Inc                   | CUSIP: 28414H103<br>LEI: 549300SHPNDCE059M934 | Long             | EC               | CORP              | US        |     29600 | NS      | $669848.00    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| ANGLOGOLD HOLDINGS PLC                   | AngloGold Ashanti Holdings PLC             | CUSIP: 03512TAE1<br>LEI: 213800745ZIXC4L6A131 | Long             | DBT              | CORP              | IM        |    750000 | PA      | $719273.64    | 0.54%             | 2030-10-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| AGCO Corp                                | AGCO Corp                                  | CUSIP: 001084102<br>LEI: LYOM0B2GCF1JWXK5ZG04 | Long             | EC               | CORP              | US        |      6000 | NS      | $625920.00    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Bellevue Gold Ltd                        | Bellevue Gold Ltd                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |    636965 | NS      | $724759.00    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| WELLS FARGO SECURITIES, LLC              | HALLIBURTON CO                             | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | N/A              | DE               | CORP              | US        |       -66 | NC      | $-12699.16    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| FMC Corp                                 | FMC Corp                                   | CUSIP: 302491303<br>LEI: CKDHZ2X64EEBQCSP7013 | Long             | EC               | CORP              | US        |     13000 | NS      | $180310.00    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| DEVON ENERGY CORPORATION                 | Devon Energy Corp                          | CUSIP: 25179MBF9<br>LEI: 54930042348RKR3ZPN35 | Long             | DBT              | CORP              | US        |     80000 | PA      | $80278.43     | 0.06%             | 2030-01-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Chevron Corp                             | Chevron Corp                               | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     21414 | NS      | $3263707.74   | 2.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Mosaic Co/The                            | Mosaic Co/The                              | CUSIP: 61945C103<br>LEI: 2YD5STGSJNMUB7H76907 | Long             | EC               | CORP              | US        |     37500 | NS      | $903375.00    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                            | United States Treasury Bill                | CUSIP: 912797SC2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2065000 | PA      | $2048281.06   | 1.53%             | 2026-03-26      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Suncor Energy Inc                        | Suncor Energy Inc                          | CUSIP: 867224107<br>LEI: 549300W70ZOQDVLCHY06 | Long             | EC               | CORP              | CA        |     11400 | NS      | $505704.00    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Archer-Daniels-Midland Co                | Archer-Daniels-Midland Co                  | CUSIP: 039483102<br>LEI: 549300LO13MQ9HYSTR83 | Long             | EC               | CORP              | US        |     46100 | NS      | $2650289.00   | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Williams Cos Inc/The                     | Williams Cos Inc/The                       | CUSIP: 969457100<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | EC               | CORP              | US        |     23400 | NS      | $1406574.00   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Targa Resources Corp                     | Targa Resources Corp                       | CUSIP: 87612G101<br>LEI: 5493003QENHHS261UR94 | Long             | EC               | CORP              | US        |      4200 | NS      | $774900.00    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinox Gold Corp                        | Equinox Gold Corp                          | CUSIP: 29446Y502<br>LEI: 5493005IN4V1SNP9PN75 | Long             | EC               | CORP              | CA        |     98245 | NS      | $1380748.28   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| ROTH CAPITAL PARTNERS, LLC               | ARCHER-DANIELS-MIDLAND CO                  | CUSIP: 000000000<br>LEI: 549300FMF3TPT1HFRF48 | N/A              | DE               | CORP              | US        |      -160 | NC      | $-13267.09    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Phillips 66                              | Phillips 66                                | CUSIP: 718546104<br>LEI: 5493005JBO5YSIGK1814 | Long             | EC               | CORP              | US        |      9700 | NS      | $1251688.00   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Marathon Petroleum Corp                  | Marathon Petroleum Corp                    | CUSIP: 56585A102<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | EC               | CORP              | US        |      6800 | NS      | $1105884.00   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinox Gold Corp                        | Equinox Gold Corp                          | CUSIP: 29446Y502<br>LEI: 5493005IN4V1SNP9PN75 | Long             | EC               | CORP              | CA        |     63900 | NS      | $897156.00    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| CF Industries Holdings Inc               | CF Industries Holdings Inc                 | CUSIP: 125269100<br>LEI: 529900CG8YAQFZ2JMV97 | Long             | EC               | CORP              | US        |     19655 | NS      | $1520117.70   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                            | United States Treasury Bill                | CUSIP: 912797PV3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   9815000 | PA      | $9742198.32   | 7.28%             | 2026-03-19      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Halliburton Co                           | Halliburton Co                             | CUSIP: 406216101<br>LEI: ENYF8GB5SMQZ25S06U51 | Long             | EC               | CORP              | US        |     16800 | NS      | $474768.00    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Discovery Silver Corp                    | Discovery Silver Corp                      | CUSIP: 254677107<br>LEI: 98450041CCB3E8QD3F53 | Long             | EC               | CORP              | CA        |    199000 | NS      | $1214979.42   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Nutrien Ltd                              | Nutrien Ltd                                | CUSIP: 67077M108<br>LEI: 5493002QQ7GD21OWF963 | Long             | EC               | CORP              | CA        |     46400 | NS      | $2863808.00   | 2.14%             |  |  |  | No            |                  1 | On Loan: No      |
| BHP Group Ltd                            | BHP Group Ltd                              | CUSIP: 088606108<br>LEI: WZE1WSENV6JSZFK0JC28 | Long             | EC               | CORP              | AU        |     59800 | NS      | $3610126.00   | 2.70%             |  |  |  | No            |                  1 | On Loan: No      |
| TotalEnergies SE                         | TotalEnergies SE                           | CUSIP: 000000000<br>LEI: 529900S21EQ1BO4ESM68 | Long             | EC               | CORP              | FR        |     22400 | NS      | $1465408.00   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| CIBC WORLD MARKETS CORP.                 | AGNICO EAGLE MINES LTD                     | CUSIP: 000000000<br>LEI: 549300445CON3DBMU275 | N/A              | DE               | CORP              | US        |       -22 | NC      | $-35315.52    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| Baker Hughes Co                          | Baker Hughes Co                            | CUSIP: 05722G100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     18900 | NS      | $860706.00    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Darling Ingredients Inc                  | Darling Ingredients Inc                    | CUSIP: 237266101<br>LEI: L1N0SPPKS7EXZYUMZ898 | Long             | EC               | CORP              | US        |     21000 | NS      | $756000.00    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Agnico Eagle Mines Ltd                   | Agnico Eagle Mines Ltd                     | CUSIP: 008474108<br>LEI: 254900BFJ2DOHPMEXN45 | Long             | EC               | CORP              | CA        |      3300 | NS      | $559449.00    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| SLB Ltd                                  | SLB Ltd                                    | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | US        |     24700 | NS      | $947986.00    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| ONEOK Inc                                | ONEOK Inc                                  | CUSIP: 682680103<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | EC               | CORP              | US        |     11500 | NS      | $845250.00    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                            | United States Treasury Bill                | CUSIP: 912797SB4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    110000 | PA      | $109257.18    | 0.08%             | 2026-03-12      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| EOG Resources Inc                        | EOG Resources Inc                          | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |     10500 | NS      | $1102605.00   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Bayer AG                                 | Bayer AG                                   | CUSIP: 000000000<br>LEI: 549300J4U55H3WP1XT59 | Long             | EC               | CORP              | DE        |     60000 | NS      | $2609649.12   | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Ramelius Resources Ltd                   | Ramelius Resources Ltd                     | CUSIP: 000000000<br>LEI: 254900E44AIGW7KKNR98 | Long             | EC               | CORP              | AU        |    262714 | NS      | $729340.30    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Barrick Mining Corp                      | Barrick Mining Corp                        | CUSIP: 06849F108<br>LEI: 0O4KBQCJZX82UKGCBV73 | Long             | EC               | CORP              | CA        |     45200 | NS      | $1968460.00   | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| ROTH CAPITAL PARTNERS, LLC               | RIO TINTO PLC                              | CUSIP: 000000000<br>LEI: 549300FMF3TPT1HFRF48 | N/A              | DE               | CORP              | US        |      -144 | NC      | $-44179.73    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| TREASURY BILL                            | United States Treasury Bill                | CUSIP: 912797PM3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   6130000 | PA      | $6100942.76   | 4.56%             | 2026-02-19      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| K92 Mining Inc                           | K92 Mining Inc                             | CUSIP: 499113108<br>LEI: 254900EA8H0X9FEVZU11 | Long             | EC               | CORP              | CA        |    119100 | NS      | $1968874.72   | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Shell PLC                                | Shell PLC                                  | CUSIP: 780259305<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | GB        |     30400 | NS      | $2233792.00   | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                            | United States Treasury Bill                | CUSIP: 912797SZ1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4000000 | PA      | $3971374.32   | 2.97%             | 2026-03-17      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Wheaton Precious Metals Corp             | Wheaton Precious Metals Corp               | CUSIP: 962879102<br>LEI: 549300XSFG5ZCGVYD886 | Long             | EC               | CORP              | CA        |     12650 | NS      | $1486628.00   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Perseus Mining Ltd                       | Perseus Mining Ltd                         | CUSIP: 000000000<br>LEI: 54930054ZDGKBCW3SM26 | Long             | EC               | CORP              | AU        |    627334 | NS      | $2377939.64   | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Franco-Nevada Corp                       | Franco-Nevada Corp                         | CUSIP: 351858105<br>LEI: 98450064C1B5D3E94864 | Long             | EC               | CORP              | CA        |      4200 | NS      | $870576.00    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Lundin Gold Inc                          | Lundin Gold Inc                            | CUSIP: 550371108<br>LEI: 549300ZOV16K515FC525 | Long             | EC               | CORP              | CA        |     23400 | NS      | $1943876.73   | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Corteva Inc                              | Corteva Inc                                | CUSIP: 22052L104<br>LEI: 549300WZN9I2QKLS0O94 | Long             | EC               | CORP              | US        |     45000 | NS      | $3016350.00   | 2.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp                         | Exxon Mobil Corp                           | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |     43907 | NS      | $5283768.38   | 3.95%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                 | NEWMONT CORP                               | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               | CORP              | US        |      -157 | NC      | $-52326.58    | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| Kinder Morgan Inc                        | Kinder Morgan Inc                          | CUSIP: 49456B101<br>LEI: 549300WR7IX8XE0TBO16 | Long             | EC               | CORP              | US        |     40600 | NS      | $1116094.00   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Northern Star Resources Ltd              | Northern Star Resources Ltd                | CUSIP: 000000000<br>LEI: 254900XFXCRYYZAX6M78 | Long             | EC               | CORP              | AU        |    246516 | NS      | $4397417.86   | 3.29%             |  |  |  | No            |                  1 | On Loan: No      |
| IAMGOLD CORP                             | IAMGOLD Corp                               | CUSIP: 450913AF5<br>LEI: 254900E7II30XAB9LA72 | Long             | DBT              | CORP              | CA        |    500000 | PA      | $499144.80    | 0.37%             | 2028-10-15      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| TREASURY BILL                            | United States Treasury Bill                | CUSIP: 912797SR9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3000000 | PA      | $2986466.43   | 2.23%             | 2026-02-17      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ROTH CAPITAL PARTNERS, LLC               | CORTEVA INC                                | CUSIP: 000000000<br>LEI: 549300FMF3TPT1HFRF48 | N/A              | DE               | CORP              | US        |       -10 | NC      | $-450.07      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| OPPENHEIMER & CO. INC.                   | ONEOK INC                                  | CUSIP: 000000000<br>LEI: 254900VH02JQR2L8XD64 | N/A              | DE               | CORP              | US        |       -38 | NC      | $-23.84       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                 | NUTRIEN LTD                                | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               | CORP              | US        |      -154 | NC      | $-69813.88    | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS, LLC                 | AGCO CORP                                  | CUSIP: 000000000<br>LEI: 549300LCO2FLSSVFFR64 | N/A              | DE               | CORP              | US        |       -20 | NC      | $-6226.16     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| WELLS FARGO SECURITIES, LLC              | EXPAND ENERGY CORP                         | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | N/A              | DE               | CORP              | US        |       -22 | NC      | $-2913.88     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| RAYMOND JAMES & ASSOCIATES, INC.         | TARGA RESOURCES CORP                       | CUSIP: 000000000<br>LEI: U4ONQX15J3RO8XCKE979 | N/A              | DE               | CORP              | US        |       -13 | NC      | $-4376.13     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC               | PAN AMERICAN SILVER CORP                   | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DE               | CORP              | US        |       -54 | NC      | $-93309.73    | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| OPPENHEIMER & CO. INC.                   | KINDER MORGAN INC                          | CUSIP: 000000000<br>LEI: 254900VH02JQR2L8XD64 | N/A              | DE               | CORP              | US        |      -137 | NC      | $-13832.79    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.          | STATE STREET ENERGY SELECT SECTOR SPDR ETF | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -456 | NC      | $-20064.00    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                 | MOWI ASA                                   | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               | CORP              | US        |      -245 | NC      | $-23617.63    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS INC.            | MOSAIC CO/THE                              | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | N/A              | DE               | CORP              | US        |      -125 | NC      | $-67.28       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                 | ALAMOS GOLD INC                            | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               | CORP              | US        |      -141 | NC      | $-169143.37   | -0.13%            |  |  |  | No            |                  2 | On Loan: No      |
| CBOE GLOBAL MARKETS, INC.                | ALAMOS GOLD INC                            | CUSIP: 000000000<br>LEI: 529900RLNSGA90UPEH54 | N/A              | DE               | CORP              | US        |      -291 | NC      | $-279360.00   | -0.21%            |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                 | ENI SPA                                    | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               | CORP              | US        |       -24 | NC      | $-14023.69    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| FBN SECURITIES, INC.                     | FREEPORT-MCMORAN INC                       | CUSIP: 000000000<br>LEI: 549300IZFVXL9ZPJFM37 | N/A              | DE               | CORP              | US        |      -268 | NC      | $-124771.85   | -0.09%            |  |  |  | No            |                  2 | On Loan: No      |
| JANE STREET EXECUTION SERVICES, LLC      | DEVON ENERGY CORP                          | CUSIP: 000000000<br>LEI: 549300HXJLXCPDWAH070 | N/A              | DE               | CORP              | US        |       -50 | NC      | $-8704.90     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| RAYMOND JAMES & ASSOCIATES, INC.         | ARCHER-DANIELS-MIDLAND CO                  | CUSIP: 000000000<br>LEI: U4ONQX15J3RO8XCKE979 | N/A              | DE               | CORP              | US        |      -140 | NC      | $-30065.66    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| MERRILL LYNCH INTERNATIONAL              | CONOCOPHILLIPS                             | CUSIP: 000000000<br>LEI: GGDZP1UYGU9STUHRDP48 | N/A              | DE               | CORP              | GB        |       -40 | NC      | $-459.41      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS INC.            | VALERO ENERGY CORP                         | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | N/A              | DE               | CORP              | US        |       -23 | NC      | $-26093.43    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                 | ENI SPA                                    | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               | CORP              | US        |       -21 | NC      | $-11521.32    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC               | FREEPORT-MCMORAN INC                       | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DE               | CORP              | US        |      -247 | NC      | $-119145.14   | -0.09%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                  | G MINING VENTURES CORP                     | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DE               | CORP              | US        |      -240 | NC      | $-132681.31   | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                  | ENDEAVOUR MINING PLC                       | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DE               | CORP              | US        |      -150 | NC      | $-285048.10   | -0.21%            |  |  |  | No            |                  2 | On Loan: No      |
| OPPENHEIMER & CO. INC.                   | MOSAIC CO/THE                              | CUSIP: 000000000<br>LEI: 254900VH02JQR2L8XD64 | N/A              | DE               | CORP              | US        |      -125 | NC      | $-12267.33    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| NASDAQ, INC.                             | DARLING INGREDIENTS INC                    | CUSIP: 000000000<br>LEI: 549300L8X1Q78ERXFD06 | N/A              | DE               | CORP              | US        |       -70 | NC      | $-12600.00    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| JANE STREET EXECUTION SERVICES, LLC      | BHP GROUP LTD                              | CUSIP: 000000000<br>LEI: 549300HXJLXCPDWAH070 | N/A              | DE               | CORP              | US        |      -160 | NC      | $-62723.70    | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| OPPENHEIMER & CO. INC.                   | FMC CORP                                   | CUSIP: 000000000<br>LEI: 254900VH02JQR2L8XD64 | N/A              | DE               | CORP              | US        |       -65 | NC      | $-1532.80     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CBOE GLOBAL MARKETS, INC.                | FRANCO-NEVADA CORP                         | CUSIP: 000000000<br>LEI: 529900RLNSGA90UPEH54 | N/A              | DE               | CORP              | US        |       -12 | NC      | $-46560.00    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC               | ROYAL GOLD INC                             | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DE               | CORP              | US        |       -25 | NC      | $-48118.35    | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| OPPENHEIMER & CO. INC.                   | CNH INDUSTRIAL NV                          | CUSIP: 000000000<br>LEI: 254900VH02JQR2L8XD64 | N/A              | DE               | CORP              | US        |      -400 | NC      | $-21.92       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| STIFEL, NICOLAUS & COMPANY, INCORPORATED | CHEVRON CORP                               | CUSIP: 000000000<br>LEI: 5WUVMA08EYG4KEUPW589 | N/A              | DE               | CORP              | US        |       -74 | NC      | $-10359.14    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| CIBC WORLD MARKETS CORP.                 | AGCO CORP                                  | CUSIP: 000000000<br>LEI: 549300445CON3DBMU275 | N/A              | DE               | CORP              | US        |       -20 | NC      | $-3426.19     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| PIPER SANDLER COMPANIES                  | NEWMONT CORP                               | CUSIP: 000000000<br>LEI: QUQDBTUSOAKFEVMRMF78 | N/A              | DE               | CORP              | US        |       -81 | NC      | $-161747.79   | -0.12%            |  |  |  | No            |                  2 | On Loan: No      |
| OPPENHEIMER & CO. INC.                   | MOSAIC CO/THE                              | CUSIP: 000000000<br>LEI: 254900VH02JQR2L8XD64 | N/A              | DE               | CORP              | US        |      -125 | NC      | $-2668.79     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BMO NESBITT BURNS INC.                   | FRANCO-NEVADA CORP                         | CUSIP: 000000000<br>LEI: M3LKFDNSJGJ7TMLH6Z15 | N/A              | DE               | CORP              | CA        |       -30 | NC      | $-37396.58    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                 | CF INDUSTRIES HOLDINGS INC                 | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               | CORP              | US        |       -65 | NC      | $-12216.17    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| ROTH CAPITAL PARTNERS, LLC               | MARATHON PETROLEUM CORP                    | CUSIP: 000000000<br>LEI: 549300FMF3TPT1HFRF48 | N/A              | DE               | CORP              | US        |       -23 | NC      | $-498.81      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| JANE STREET FINANCIAL LIMITED            | DIAMONDBACK ENERGY INC                     | CUSIP: 000000000<br>LEI: 549300ZHEHX8M31RP142 | N/A              | DE               | CORP              | GB        |        -5 | NC      | $-4320.28     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| STRATEGAS SECURITIES, LLC                | TORO CO/THE                                | CUSIP: 000000000<br>LEI: 254900D5NQ2O9DJLKH96 | N/A              | DE               | CORP              | US        |       -45 | NC      | $-18945.73    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| CBOE GLOBAL MARKETS, INC.                | EQUINOX GOLD CORP                          | CUSIP: 000000000<br>LEI: 529900RLNSGA90UPEH54 | N/A              | DE               | CORP              | US        |       -73 | NC      | $-3650.00     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| JANE STREET FINANCIAL LIMITED            | ONEOK INC                                  | CUSIP: 000000000<br>LEI: 549300ZHEHX8M31RP142 | N/A              | DE               | CORP              | GB        |       -47 | NC      | $-6025.53     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| STRATEGAS SECURITIES, LLC                | EXXON MOBIL CORP                           | CUSIP: 000000000<br>LEI: 254900D5NQ2O9DJLKH96 | N/A              | DE               | CORP              | US        |      -145 | NC      | $-129250.38   | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                 | BAKER HUGHES CO                            | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               | CORP              | US        |       -72 | NC      | $-4618.21     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MERRILL LYNCH INTERNATIONAL              | WILLIAMS COS INC/THE                       | CUSIP: 000000000<br>LEI: GGDZP1UYGU9STUHRDP48 | N/A              | DE               | CORP              | GB        |       -74 | NC      | $-7663.08     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS INC.            | NUTRIEN LTD                                | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | N/A              | DE               | CORP              | US        |      -140 | NC      | $-53603.44    | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| STIFEL, NICOLAUS & COMPANY, INCORPORATED | BUNGE GLOBAL SA                            | CUSIP: 000000000<br>LEI: 5WUVMA08EYG4KEUPW589 | N/A              | DE               | CORP              | US        |       -50 | NC      | $-22921.44    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| MERRILL LYNCH INTERNATIONAL              | CHEVRON CORP                               | CUSIP: 000000000<br>LEI: GGDZP1UYGU9STUHRDP48 | N/A              | DE               | CORP              | GB        |       -51 | NC      | $-12579.94    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| OPPENHEIMER & CO. INC.                   | EXXON MOBIL CORP                           | CUSIP: 000000000<br>LEI: 254900VH02JQR2L8XD64 | N/A              | DE               | CORP              | US        |       -90 | NC      | $-73580.54    | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| EVERCORE GROUP L.L.C.                    | OCCIDENTAL PETROLEUM CORP                  | CUSIP: 000000000<br>LEI: 5493008F0LRLS5N8LZ81 | N/A              | DE               | CORP              | US        |       -20 | NC      | $-11.24       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| EVERCORE GROUP L.L.C.                    | TYSON FOODS INC                            | CUSIP: 000000000<br>LEI: 5493008F0LRLS5N8LZ81 | N/A              | DE               | CORP              | US        |      -106 | NC      | $-51420.07    | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| CIBC WORLD MARKETS CORP.                 | ROYAL GOLD INC                             | CUSIP: 000000000<br>LEI: 549300445CON3DBMU275 | N/A              | DE               | CORP              | US        |       -20 | NC      | $-46097.52    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.          | VANECK GOLD MINERS ETF/USA                 | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -315 | NC      | $-13860.00    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| PIPER SANDLER COMPANIES                  | GOLD FIELDS LTD                            | CUSIP: 000000000<br>LEI: QUQDBTUSOAKFEVMRMF78 | N/A              | DE               | CORP              | US        |       -70 | NC      | $-26411.67    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| SCOTIA CAPITAL (USA) INC.                | ANGLOGOLD ASHANTI PLC                      | CUSIP: 000000000<br>LEI: 549300BLWPABP1VNME36 | N/A              | DE               | CORP              | US        |      -134 | NC      | $-455054.89   | -0.34%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                  | LUNDIN GOLD INC                            | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DE               | CORP              | US        |       -62 | NC      | $-26690.80    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| JANE STREET EXECUTION SERVICES, LLC      | SUNCOR ENERGY INC                          | CUSIP: 000000000<br>LEI: 549300HXJLXCPDWAH070 | N/A              | DE               | CORP              | US        |       -44 | NC      | $-11122.85    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                 | EQUINOX GOLD CORP                          | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               | CORP              | US        |      -480 | NC      | $-40772.64    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.          | IAMGOLD CORP                               | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -366 | NC      | $-60390.00    | -0.05%            |  |  |  | No            |                  1 | On Loan: No      |
| ROTH CAPITAL PARTNERS, LLC               | AGCO CORP                                  | CUSIP: 000000000<br>LEI: 549300FMF3TPT1HFRF48 | N/A              | DE               | CORP              | US        |       -20 | NC      | $-810.75      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS INC.            | APA CORP                                   | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | N/A              | DE               | CORP              | US        |       -68 | NC      | $-14817.91    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| CIBC WORLD MARKETS CORP.                 | BARRICK MINING CORP                        | CUSIP: 000000000<br>LEI: 549300445CON3DBMU275 | N/A              | DE               | CORP              | US        |      -129 | NC      | $-21749.79    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| MERRILL LYNCH INTERNATIONAL              | CHEVRON CORP                               | CUSIP: 000000000<br>LEI: GGDZP1UYGU9STUHRDP48 | N/A              | DE               | CORP              | GB        |       -55 | NC      | $-6427.09     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| JANE STREET EXECUTION SERVICES, LLC      | EOG RESOURCES INC                          | CUSIP: 000000000<br>LEI: 549300HXJLXCPDWAH070 | N/A              | DE               | CORP              | US        |       -36 | NC      | $-16231.16    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.          | AGNICO EAGLE MINES LTD                     | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |       -11 | NC      | $-9735.00     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| CBOE GLOBAL MARKETS, INC.                | ALAMOS GOLD INC                            | CUSIP: 000000000<br>LEI: 529900RLNSGA90UPEH54 | N/A              | DE               | CORP              | US        |      -280 | NC      | $-159600.00   | -0.12%            |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                 | DEVON ENERGY CORP                          | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               | CORP              | US        |       -50 | NC      | $-6249.63     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.          | ELDORADO GOLD CORP                         | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DE               | CORP              | US        |      -227 | NC      | $-149820.00   | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS INC.            | VALERO ENERGY CORP                         | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | N/A              | DE               | CORP              | US        |       -20 | NC      | $-18773.61    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| RAYMOND JAMES & ASSOCIATES, INC.         | GOLD FIELDS LTD                            | CUSIP: 000000000<br>LEI: U4ONQX15J3RO8XCKE979 | N/A              | DE               | CORP              | US        |       -90 | NC      | $-155258.26   | -0.12%            |  |  |  | No            |                  2 | On Loan: No      |
| SG AMERICAS SECURITIES, LLC              | TYSON FOODS INC                            | CUSIP: 000000000<br>LEI: 549300F35UE0BOM1WJ55 | N/A              | DE               | CORP              | US        |      -120 | NC      | $-24783.44    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                 | EOG RESOURCES INC                          | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               | CORP              | US        |       -33 | NC      | $-20.02       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| JANE STREET EXECUTION SERVICES, LLC      | DIAMONDBACK ENERGY INC                     | CUSIP: 000000000<br>LEI: 549300HXJLXCPDWAH070 | N/A              | DE               | CORP              | US        |       -10 | NC      | $-7943.84     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| STRATEGAS SECURITIES, LLC                | EXPAND ENERGY CORP                         | CUSIP: 000000000<br>LEI: 254900D5NQ2O9DJLKH96 | N/A              | DE               | CORP              | US        |       -22 | NC      | $-6275.77     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CBOE GLOBAL MARKETS, INC.                | CORTEVA INC                                | CUSIP: 000000000<br>LEI: 529900RLNSGA90UPEH54 | N/A              | DE               | CORP              | US        |      -145 | NC      | $-12325.00    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| WELLS FARGO SECURITIES, LLC              | CONOCOPHILLIPS                             | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | N/A              | DE               | CORP              | US        |       -31 | NC      | $-6062.68     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| STIFEL, NICOLAUS & COMPANY, INCORPORATED | COTERRA ENERGY INC                         | CUSIP: 000000000<br>LEI: 5WUVMA08EYG4KEUPW589 | N/A              | DE               | CORP              | US        |       -52 | NC      | $-5817.43     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| RAYMOND JAMES & ASSOCIATES, INC.         | NUTRIEN LTD                                | CUSIP: 000000000<br>LEI: U4ONQX15J3RO8XCKE979 | N/A              | DE               | CORP              | US        |      -170 | NC      | $-42703.49    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| JANE STREET EXECUTION SERVICES, LLC      | OCCIDENTAL PETROLEUM CORP                  | CUSIP: 000000000<br>LEI: 549300HXJLXCPDWAH070 | N/A              | DE               | CORP              | US        |       -27 | NC      | $-3837.88     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-02-27

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

**Signature:** John C. Ball

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

**Title:** Treasurer