# EDGAR Filing Document

**Accession Number:** 0000733020
**File Stem:** 0001172661-25-004293
**Filing Date:** 2025-10
**Character Count:** 24352
**Document Hash:** 6aaa00f5d79a05b76525f8dea33143a4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001172661-25-004293.hdr.sgml**: 20251015

**ACCESSION NUMBER**: 0001172661-25-004293

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251015

**DATE AS OF CHANGE**: 20251015

**EFFECTIVENESS DATE**: 20251015

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ARS Investment Partners, LLC
- **CENTRAL INDEX KEY:** 0000733020

**ORGANIZATION NAME:**
- **EIN:** 132684582
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-00858
- **FILM NUMBER:** 251394114

**BUSINESS ADDRESS:**
- **STREET 1:** 529 FIFTH AVENUE
- **STREET 2:** SUITE 500
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017
- **BUSINESS PHONE:** 212-687-9800

**MAIL ADDRESS:**
- **STREET 1:** 529 FIFTH AVENUE
- **STREET 2:** SUITE 500
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** A.R. Schmeidler & Co., Inc.
- **DATE OF NAME CHANGE:** 20150706

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SCHMEIDLER A R & CO INC
- **DATE OF NAME CHANGE:** 19990329

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 09-30-2025

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

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

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** ARS Investment Partners LLC<br>**Address:** 529 Fifth Avenue<br>Suite 500<br>New York, NY 10017

**Form 13F File Number:** 028-00858

**CRD Number (if applicable):** 000005845

**SEC File Number (if applicable):** 801-7566

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

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

**Name:** Kristen Niebuhr<br>**Title:** Chief Compliance Officer<br>**Phone:** 212-687-9800

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

/s/ Kristen Niebuhr  New York, NY  10-15-2025<br>[Signature]  [City, State]  [Date]

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

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

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

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

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 204

**Form 13F Information Table Value Total:** $1514561574

      (round to nearest dollar)

**List of Other Included Managers:**

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

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

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| A2Z CUST2MATE SOLUTIONS CORP | COM | 002205102 |  | 103870 | 13000 | SH |  | SOLE |  | 0 | 0 | 13000 |
| ABBOTT LABS | COM | 002824100 |  | 604739 | 4515 | SH |  | SOLE |  | 0 | 0 | 4515 |
| ABBVIE INC | COM | 00287Y109 |  | 6593333 | 28476 | SH |  | SOLE |  | 293 | 0 | 28183 |
| ADVANCED MICRO DEVICES INC | COM | 007903107 |  | 284589 | 1759 | SH |  | SOLE |  | 0 | 0 | 1759 |
| AEHR TEST SYS | COM | 00760J108 |  | 542703 | 18024 | SH |  | SOLE |  | 3100 | 0 | 14924 |
| AEROVIRONMENT INC | COM | 008073108 |  | 1045750 | 3321 | SH |  | SOLE |  | 197 | 0 | 3124 |
| ALGONQUIN PWR UTILS CORP | COM | 015857105 |  | 3577333 | 666170 | SH |  | SOLE |  | 41521 | 0 | 624649 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 61323798 | 252258 | SH |  | SOLE |  | 33294 | 0 | 218964 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 6766063 | 27781 | SH |  | SOLE |  | 3457 | 0 | 24324 |
| AMAZON COM INC | COM | 023135106 |  | 38867294 | 177016 | SH |  | SOLE |  | 20175 | 0 | 156841 |
| AMENTUM HOLDINGS INC | COM | 023939101 |  | 215550 | 9000 | SH |  | SOLE |  | 0 | 0 | 9000 |
| AMERICAN ELEC PWR CO INC | COM | 025537101 |  | 1271250 | 11300 | SH |  | SOLE |  | 0 | 0 | 11300 |
| AMPLITUDE INC | COM CL A | 03213A104 |  | 394700 | 36819 | SH |  | SOLE |  | 6755 | 0 | 30064 |
| ANALOG DEVICES INC | COM | 032654105 |  | 5512790 | 22437 | SH |  | SOLE |  | 1278 | 0 | 21159 |
| AON PLC | SHS CL A | G0403H108 |  | 229994 | 645 | SH |  | SOLE |  | 0 | 0 | 645 |
| APPLE INC | COM | 037833100 |  | 84382116 | 331391 | SH |  | SOLE |  | 31429 | 0 | 299962 |
| APPLIED MATLS INC | COM | 038222105 |  | 3873681 | 18920 | SH |  | SOLE |  | 0 | 0 | 18920 |
| ARDAGH METAL PACKAGING S A | SHS | L02235106 |  | 53267 | 13350 | SH |  | SOLE |  | 0 | 0 | 13350 |
| ASCENDIS PHARMA A/S | SPONSORED ADR | 04351P101 |  | 34924356 | 175667 | SH |  | SOLE |  | 31497 | 0 | 144170 |
| ASML HOLDING N V | N Y REGISTRY SHS | N07059210 |  | 367874 | 380 | SH |  | SOLE |  | 0 | 0 | 380 |
| ASPEN AEROGELS INC | COM | 04523Y105 |  | 417649 | 60007 | SH |  | SOLE |  | 10820 | 0 | 49187 |
| ASTRONICS CORP | COM | 046433108 |  | 204424 | 4482 | SH |  | SOLE |  | 810 | 0 | 3672 |
| ATLANTA BRAVES HLDGS INC | COM SER C | 047726302 |  | 249540 | 6000 | SH |  | SOLE |  | 0 | 0 | 6000 |
| AZZ INC | COM | 002474104 |  | 230701 | 2114 | SH |  | SOLE |  | 593 | 0 | 1521 |
| BIOHAVEN LTD | COM | G1110E107 |  | 16549260 | 1102549 | SH |  | SOLE |  | 131783 | 0 | 970766 |
| BITMINE IMMERSION TECNOLOGIE | COM NEW | 09175A206 |  | 349229 | 6725 | SH |  | SOLE |  | 0 | 0 | 6725 |
| BLACKROCK INC | COM | 09290D101 |  | 12209174 | 10472 | SH |  | SOLE |  | 509 | 0 | 9963 |
| BLACKSTONE INC | COM | 09260D107 |  | 34279002 | 200638 | SH |  | SOLE |  | 25551 | 0 | 175087 |
| BLACKSTONE SECD LENDING FD | COMMON STOCK | 09261X102 |  | 234630 | 9000 | SH |  | SOLE |  | 0 | 0 | 9000 |
| BOEING CO | COM | 097023105 |  | 22891146 | 106061 | SH |  | SOLE |  | 21650 | 0 | 84411 |
| BOWMAN CONSULTING GROUP LTD | COM | 103002101 |  | 223957 | 5287 | SH |  | SOLE |  | 1785 | 0 | 3502 |
| BP PLC | SPONSORED ADR | 055622104 |  | 227436 | 6600 | SH |  | SOLE |  | 0 | 0 | 6600 |
| BRISTOL-MYERS SQUIBB CO | COM | 110122108 |  | 964464 | 21385 | SH |  | SOLE |  | 0 | 0 | 21385 |
| BROADCOM INC | COM | 11135F101 |  | 42701333 | 129433 | SH |  | SOLE |  | 5481 | 0 | 123952 |
| BWX TECHNOLOGIES INC | COM | 05605H100 |  | 4339517 | 23537 | SH |  | SOLE |  | 7482 | 0 | 16055 |
| CADRE HLDGS INC | COM | 12763L105 |  | 472987 | 12955 | SH |  | SOLE |  | 2095 | 0 | 10860 |
| CANADIAN NATL RY CO | COM | 136375102 |  | 1031453 | 10938 | SH |  | SOLE |  | 0 | 0 | 10938 |
| CAREDX INC | COM | 14167L103 |  | 1542040 | 106055 | SH |  | SOLE |  | 4935 | 0 | 101120 |
| CHENIERE ENERGY INC | COM NEW | 16411R208 |  | 22360227 | 95158 | SH |  | SOLE |  | 18310 | 0 | 76848 |
| CHEVRON CORP NEW | COM | 166764100 |  | 11458625 | 73789 | SH |  | SOLE |  | 3378 | 0 | 70411 |
| CLEVELAND-CLIFFS INC NEW | COM | 185899101 |  | 4339479 | 355695 | SH |  | SOLE |  | 4089 | 0 | 351606 |
| COGENT COMMUNICATIONS HLDGS | COM NEW | 19239V302 |  | 679102 | 17708 | SH |  | SOLE |  | 0 | 0 | 17708 |
| COLGATE PALMOLIVE CO | COM | 194162103 |  | 1461383 | 18281 | SH |  | SOLE |  | 50 | 0 | 18231 |
| COMCAST CORP NEW | CL A | 20030N101 |  | 5716620 | 181942 | SH |  | SOLE |  | 11102 | 0 | 170840 |
| COMMERCIAL METALS CO | COM | 201723103 |  | 1935262 | 33786 | SH |  | SOLE |  | 238 | 0 | 33548 |
| COMPASS DIVERSIFIED | SH BEN INT | 20451Q104 |  | 98598 | 14894 | SH |  | SOLE |  | 3371 | 0 | 11523 |
| CONSOLIDATED EDISON INC | COM | 209115104 |  | 260849 | 2595 | SH |  | SOLE |  | 0 | 0 | 2595 |
| CORNING INC | COM | 219350105 |  | 356010 | 4340 | SH |  | SOLE |  | 300 | 0 | 4040 |
| CRANE NXT CO | COM | 224441105 |  | 270627 | 4035 | SH |  | SOLE |  | 1086 | 0 | 2949 |
| CREXENDO INC | COM | 226552107 |  | 349960 | 53840 | SH |  | SOLE |  | 16694 | 0 | 37146 |
| CRH PLC | ORD | G25508105 |  | 45005065 | 375355 | SH |  | SOLE |  | 56349 | 0 | 319006 |
| CROWN CASTLE INC | COM | 22822V101 |  | 9232646 | 95685 | SH |  | SOLE |  | 4479 | 0 | 91206 |
| CSX CORP | COM | 126408103 |  | 251411 | 7080 | SH |  | SOLE |  | 0 | 0 | 7080 |
| DANAHER CORPORATION | COM | 235851102 |  | 205001 | 1034 | SH |  | SOLE |  | 0 | 0 | 1034 |
| DELL TECHNOLOGIES INC | CL C | 24703L202 |  | 1811821 | 12780 | SH |  | SOLE |  | 235 | 0 | 12545 |
| DELTA AIR LINES INC DEL | COM NEW | 247361702 |  | 362062 | 6380 | SH |  | SOLE |  | 0 | 0 | 6380 |
| DEVON ENERGY CORP NEW | COM | 25179M103 |  | 2171792 | 61945 | SH |  | SOLE |  | 366 | 0 | 61579 |
| DUCOMMUN INC DEL | COM | 264147109 |  | 345972 | 3599 | SH |  | SOLE |  | 1115 | 0 | 2484 |
| EA SERIES TRUST | ARS FOCUSED OPPO | 02072Q531 |  | 171890207 | 5609536 | SH |  | SOLE |  | 3056648 | 0 | 2552888 |
| EA SERIES TRUST | BASTION ENERGY E | 02072Q671 |  | 233025 | 8000 | SH |  | SOLE |  | 0 | 0 | 8000 |
| EATON CORP PLC | SHS | G29183103 |  | 17570289 | 46948 | SH |  | SOLE |  | 9925 | 0 | 37023 |
| ENTERPRISE PRODS PARTNERS L | COM | 293792107 |  | 3511527 | 112297 | SH |  | SOLE |  | 2680 | 0 | 109617 |
| EQUINIX INC | COM | 29444U700 |  | 234972 | 300 | SH |  | SOLE |  | 0 | 0 | 300 |
| ESTABLISHMENT LABS HLDGS INC | COM | G31249108 |  | 399653 | 9750 | SH |  | SOLE |  | 0 | 0 | 9750 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 4088315 | 36260 | SH |  | SOLE |  | 539 | 0 | 35721 |
| EZCORP INC | CL A NON VTG | 302301106 |  | 522896 | 27463 | SH |  | SOLE |  | 5157 | 0 | 22306 |
| FIRST TR EXCHANGE TRADED FD | NASDQ CLN EDGE | 33737A108 |  | 1467466 | 9713 | SH |  | SOLE |  | 2499 | 0 | 7214 |
| FREEPORT-MCMORAN INC | CL B | 35671D857 |  | 35638783 | 908689 | SH |  | SOLE |  | 141180 | 0 | 767509 |
| FTAI AVIATION LTD | SHS | G3730V105 |  | 233604 | 1400 | SH |  | SOLE |  | 0 | 0 | 1400 |
| FTAI INFRASTRUCTURE INC | COMMON STOCK | 35953C106 |  | 87200 | 20000 | SH |  | SOLE |  | 0 | 0 | 20000 |
| FULL HSE RESORTS INC | COM | 359678109 |  | 144450 | 45000 | SH |  | SOLE |  | 0 | 0 | 45000 |
| GALLAGHER ARTHUR J  CO | COM | 363576109 |  | 25366777 | 81897 | SH |  | SOLE |  | 2410 | 0 | 79487 |
| GCI LIBERTY INC | COM SER C | 36164V800 |  | 298160 | 8000 | SH |  | SOLE |  | 0 | 0 | 8000 |
| GE AEROSPACE | COM NEW | 369604301 |  | 300519 | 999 | SH |  | SOLE |  | 0 | 0 | 999 |
| GE VERNOVA INC | COM | 36828A101 |  | 33781991 | 54939 | SH |  | SOLE |  | 8457 | 0 | 46482 |
| GENERAL DYNAMICS CORP | COM | 369550108 |  | 2515898 | 7378 | SH |  | SOLE |  | 90 | 0 | 7288 |
| GENERAL MTRS CO | COM | 37045V100 |  | 19877317 | 326018 | SH |  | SOLE |  | 68194 | 0 | 257824 |
| GENESIS ENERGY L P | UNIT LTD PARTN | 371927104 |  | 501300 | 30000 | SH |  | SOLE |  | 0 | 0 | 30000 |
| GEO GROUP INC NEW | COM | 36162J106 |  | 286860 | 14000 | SH |  | SOLE |  | 0 | 0 | 14000 |
| GLOBAL X FDS | GLOBAL X URANIUM | 37954Y871 |  | 1099461 | 23064 | SH |  | SOLE |  | 5964 | 0 | 17100 |
| GOLAR LNG LTD | SHS | G9456A100 |  | 11963744 | 296059 | SH |  | SOLE |  | 13934 | 0 | 282125 |
| GRAHAM CORP | COM | 384556106 |  | 355038 | 6467 | SH |  | SOLE |  | 1335 | 0 | 5132 |
| GREAT LAKES DREDGE  DOCK CO | COM | 390607109 |  | 329485 | 27480 | SH |  | SOLE |  | 5672 | 0 | 21808 |
| HARMONY BIOSCIENCES HLDGS IN | COM | 413197104 |  | 591300 | 21455 | SH |  | SOLE |  | 0 | 0 | 21455 |
| HEWLETT PACKARD ENTERPRISE C | COM | 42824C109 |  | 6631249 | 270002 | SH |  | SOLE |  | 12899 | 0 | 257103 |
| HUBBELL INC | COM | 443510607 |  | 215155 | 500 | SH |  | SOLE |  | 0 | 0 | 500 |
| INFUSYSTEM HLDGS INC | COM | 45685K102 |  | 117068 | 11300 | SH |  | SOLE |  | 3380 | 0 | 7920 |
| INNOVATE CORP | COM NEW | 45784J303 |  | 225752 | 46166 | SH |  | SOLE |  | 0 | 0 | 46166 |
| INTELLICHECK INC | COM NEW | 45817G201 |  | 532173 | 102341 | SH |  | SOLE |  | 18755 | 0 | 83586 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 |  | 1931336 | 6845 | SH |  | SOLE |  | 0 | 0 | 6845 |
| INVESCO DB MULTI-SECTOR COMM | AGRICULTURE FD | 46140H106 |  | 281194 | 10508 | SH |  | SOLE |  | 10495 | 0 | 13 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 254006 | 423 | SH |  | SOLE |  | 0 | 0 | 423 |
| ISHARES BITCOIN TRUST ETF | SHS BEN INT | 46438F101 |  | 1995825 | 30705 | SH |  | SOLE |  | 7720 | 0 | 22985 |
| ISHARES TR | CORE S TTL STK | 464287150 |  | 350871 | 2409 | SH |  | SOLE |  | 0 | 0 | 2409 |
| ISHARES TR | US AER DEF ETF | 464288760 |  | 2574079 | 12301 | SH |  | SOLE |  | 4473 | 0 | 7828 |
| ISHARES TR | US BR DEL SE ETF | 464288794 |  | 2798904 | 15824 | SH |  | SOLE |  | 4028 | 0 | 11796 |
| ISHARES TR | CORE S ETF | 464287200 |  | 3667764 | 5480 | SH |  | SOLE |  | 683 | 0 | 4797 |
| ISHARES TR | SELECT DIVID ETF | 464287168 |  | 1209413 | 8511 | SH |  | SOLE |  | 0 | 0 | 8511 |
| ISHARES TR | LARGE CAP MAX BU | 46438G612 |  | 279371 | 9960 | SH |  | SOLE |  | 0 | 0 | 9960 |
| ISHARES TR | LARGE CAP MAX BU | 46438G588 |  | 532922 | 19900 | SH |  | SOLE |  | 0 | 0 | 19900 |
| ISHARES TR | LARGE CAP MAX BU | 46438G471 |  | 263936 | 9990 | SH |  | SOLE |  | 0 | 0 | 9990 |
| ISHARES TR | RUS MID CAP ETF | 464287499 |  | 254795 | 2639 | SH |  | SOLE |  | 0 | 0 | 2639 |
| ISHARES TR | S 500 GRWT ETF | 464287309 |  | 376888 | 3122 | SH |  | SOLE |  | 0 | 0 | 3122 |
| ISHARES TR | CORE DIV GRWTH | 46434V621 |  | 883400 | 12976 | SH |  | SOLE |  | 0 | 0 | 12976 |
| ISHARES TR | CORE S MCP ETF | 464287507 |  | 578399 | 8863 | SH |  | SOLE |  | 0 | 0 | 8863 |
| ISHARES TR | MSCI ACWI EX US | 464288240 |  | 975832 | 15010 | SH |  | SOLE |  | 60 | 0 | 14950 |
| ISHARES TR | CORE S SCP ETF | 464287804 |  | 415905 | 3500 | SH |  | SOLE |  | 0 | 0 | 3500 |
| ISHARES TR | CORE MSCI TOTAL | 46432F834 |  | 412900 | 5000 | SH |  | SOLE |  | 0 | 0 | 5000 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 9132670 | 49254 | SH |  | SOLE |  | 2430 | 0 | 46824 |
| KRATOS DEFENSE  SEC SOLUTIO | COM NEW | 50077B207 |  | 49148380 | 537905 | SH |  | SOLE |  | 79418 | 0 | 458487 |
| L3HARRIS TECHNOLOGIES INC | COM | 502431109 |  | 2976220 | 9745 | SH |  | SOLE |  | 110 | 0 | 9635 |
| LAM RESEARCH CORP | COM NEW | 512807306 |  | 58795470 | 439100 | SH |  | SOLE |  | 55496 | 0 | 383604 |
| LIBERTY BROADBAND CORP | COM SER A | 530307107 |  | 300818 | 4750 | SH |  | SOLE |  | 0 | 0 | 4750 |
| LIBERTY GLOBAL LTD | COM CL A | G61188101 |  | 286500 | 25000 | SH |  | SOLE |  | 0 | 0 | 25000 |
| LIBERTY LATIN AMERICA LTD | COM CL C | G9001E128 |  | 240329 | 28475 | SH |  | SOLE |  | 725 | 0 | 27750 |
| MAGNITE INC | COM | 55955D100 |  | 261360 | 12000 | SH |  | SOLE |  | 0 | 0 | 12000 |
| MARATHON PETE CORP | COM | 56585A102 |  | 19446888 | 100897 | SH |  | SOLE |  | 17263 | 0 | 83634 |
| MARSH  MCLENNAN COS INC | COM | 571748102 |  | 499391 | 2478 | SH |  | SOLE |  | 0 | 0 | 2478 |
| MARTIN MARIETTA MATLS INC | COM | 573284106 |  | 4461752 | 7079 | SH |  | SOLE |  | 105 | 0 | 6974 |
| MATTHEWS INTL CORP | CL A | 577128101 |  | 276452 | 11386 | SH |  | SOLE |  | 3532 | 0 | 7854 |
| MERCK  CO INC | COM | 58933Y105 |  | 2141846 | 25519 | SH |  | SOLE |  | 445 | 0 | 25074 |
| META PLATFORMS INC | CL A | 30303M102 |  | 1736074 | 2364 | SH |  | SOLE |  | 0 | 0 | 2364 |
| MICRON TECHNOLOGY INC | COM | 595112103 |  | 47633662 | 284686 | SH |  | SOLE |  | 36152 | 0 | 248534 |
| MILLICOM INTL CELLULAR S A | COM STK | L6388F110 |  | 242700 | 5000 | SH |  | SOLE |  | 0 | 0 | 5000 |
| MIND TECHNOLOGY INC | COM NEW | 602566309 |  | 1047582 | 129491 | SH |  | SOLE |  | 12069 | 0 | 117422 |
| MINERALS TECHNOLOGIES INC | COM | 603158106 |  | 204685 | 3295 | SH |  | SOLE |  | 991 | 0 | 2304 |
| MONDELEZ INTL INC | CL A | 609207105 |  | 1040313 | 16653 | SH |  | SOLE |  | 0 | 0 | 16653 |
| MORGAN STANLEY | COM NEW | 617446448 |  | 20040882 | 126075 | SH |  | SOLE |  | 27674 | 0 | 98401 |
| MOTOROLA SOLUTIONS INC | COM NEW | 620076307 |  | 428938 | 938 | SH |  | SOLE |  | 0 | 0 | 938 |
| MP MATERIALS CORP | COM CL A | 553368101 |  | 1326645 | 19780 | SH |  | SOLE |  | 0 | 0 | 19780 |
| MPLX LP | COM UNIT REP LTD | 55336V100 |  | 644355 | 12900 | SH |  | SOLE |  | 0 | 0 | 12900 |
| NEW JERSEY RES CORP | COM | 646025106 |  | 497967 | 10342 | SH |  | SOLE |  | 0 | 0 | 10342 |
| NEWMONT CORP | COM | 651639106 |  | 56754373 | 673163 | SH |  | SOLE |  | 94288 | 0 | 578875 |
| NEXTDECADE CORP | COM | 65342K105 |  | 115430 | 17000 | SH |  | SOLE |  | 0 | 0 | 17000 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 396926 | 5258 | SH |  | SOLE |  | 0 | 0 | 5258 |
| NORFOLK SOUTHN CORP | COM | 655844108 |  | 520911 | 1734 | SH |  | SOLE |  | 0 | 0 | 1734 |
| NORTHROP GRUMMAN CORP | COM | 666807102 |  | 12994358 | 21326 | SH |  | SOLE |  | 1349 | 0 | 19977 |
| NOVO-NORDISK A S | ADR | 670100205 |  | 8540799 | 153916 | SH |  | SOLE |  | 7221 | 0 | 146695 |
| NPK INTERNATIONAL INC | COM SHS | 651718504 |  | 380084 | 33606 | SH |  | SOLE |  | 10950 | 0 | 22656 |
| NUCOR CORP | COM | 670346105 |  | 909819 | 6718 | SH |  | SOLE |  | 0 | 0 | 6718 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 41810690 | 224090 | SH |  | SOLE |  | 42840 | 0 | 181250 |
| OCCIDENTAL PETE CORP | COM | 674599105 |  | 541958 | 11470 | SH |  | SOLE |  | 3036 | 0 | 8434 |
| OLIN CORP | COM PAR $1 | 680665205 |  | 4329393 | 173245 | SH |  | SOLE |  | 11600 | 0 | 161645 |
| PARK AEROSPACE CORP | COM | 70014A104 |  | 250243 | 12303 | SH |  | SOLE |  | 3090 | 0 | 9213 |
| PEPSICO INC | COM | 713448108 |  | 2221199 | 15816 | SH |  | SOLE |  | 0 | 0 | 15816 |
| PERMA-FIX ENVIRONMENTAL SVCS | COM NEW | 714157203 |  | 413696 | 40960 | SH |  | SOLE |  | 5661 | 0 | 35299 |
| PHILLIPS 66 | COM | 718546104 |  | 411461 | 3025 | SH |  | SOLE |  | 0 | 0 | 3025 |
| POWELL INDS INC | COM | 739128106 |  | 277072 | 909 | SH |  | SOLE |  | 218 | 0 | 691 |
| PROGRESSIVE CORP | COM | 743315103 |  | 211406 | 856 | SH |  | SOLE |  | 0 | 0 | 856 |
| QUANTA SVCS INC | COM | 74762E102 |  | 23795996 | 57420 | SH |  | SOLE |  | 11285 | 0 | 46135 |
| QUIPT HOME MEDICAL CORP | COM | 74880P104 |  | 26100 | 10000 | SH |  | SOLE |  | 0 | 0 | 10000 |
| QXO INC | COM NEW | 82846H405 |  | 4844213 | 254156 | SH |  | SOLE |  | 2100 | 0 | 252056 |
| RANPAK HOLDINGS CORP | COM CL A | 75321W103 |  | 398318 | 70875 | SH |  | SOLE |  | 11195 | 0 | 59680 |
| REGENERON PHARMACEUTICALS | COM | 75886F107 |  | 16175946 | 28769 | SH |  | SOLE |  | 6844 | 0 | 21925 |
| RICHARDSON ELECTRS LTD | COM | 763165107 |  | 498742 | 50944 | SH |  | SOLE |  | 5981 | 0 | 44963 |
| RTX CORPORATION | COM | 75513E101 |  | 35023551 | 209308 | SH |  | SOLE |  | 24967 | 0 | 184341 |
| SALESFORCE INC | COM | 79466L302 |  | 15485106 | 65338 | SH |  | SOLE |  | 14315 | 0 | 51023 |
| SANDISK CORP | COM | 80004C200 |  | 248299 | 2213 | SH |  | SOLE |  | 0 | 0 | 2213 |
| SEAGATE TECHNOLOGY HLDNGS PL | ORD SHS | G7997R103 |  | 24641595 | 104387 | SH |  | SOLE |  | 5086 | 0 | 99301 |
| SELECT SECTOR SPDR TR | SBI CONS DISCR | 81369Y407 |  | 2639633 | 11015 | SH |  | SOLE |  | 52 | 0 | 10963 |
| SELECT SECTOR SPDR TR | TECHNOLOGY | 81369Y803 |  | 12440835 | 44138 | SH |  | SOLE |  | 5954 | 0 | 38184 |
| SELECT SECTOR SPDR TR | SBI INT-UTILS | 81369Y886 |  | 573829 | 6580 | SH |  | SOLE |  | 34 | 0 | 6546 |
| SELECT SECTOR SPDR TR | COMMUNICATION | 81369Y852 |  | 1825075 | 15418 | SH |  | SOLE |  | 120 | 0 | 15298 |
| SELECT SECTOR SPDR TR | FINANCIAL | 81369Y605 |  | 3165770 | 58767 | SH |  | SOLE |  | 255 | 0 | 58512 |
| SELECT SECTOR SPDR TR | SBI CONS STPLS | 81369Y308 |  | 951814 | 12145 | SH |  | SOLE |  | 64 | 0 | 12081 |
| SELECT SECTOR SPDR TR | INDL | 81369Y704 |  | 2181475 | 14144 | SH |  | SOLE |  | 70 | 0 | 14074 |
| SELECT SECTOR SPDR TR | SBI HEALTHCARE | 81369Y209 |  | 2599223 | 18677 | SH |  | SOLE |  | 91 | 0 | 18586 |
| SELECT SECTOR SPDR TR | SBI MATERIALS | 81369Y100 |  | 469809 | 5242 | SH |  | SOLE |  | 26 | 0 | 5216 |
| SELECT SECTOR SPDR TR | ENERGY | 81369Y506 |  | 958545 | 10729 | SH |  | SOLE |  | 587 | 0 | 10142 |
| SHARKNINJA INC | COM SHS | G8068L108 |  | 206300 | 2000 | SH |  | SOLE |  | 0 | 0 | 2000 |
| SONY GROUP CORP | SPONSORED ADR | 835699307 |  | 207288 | 7200 | SH |  | SOLE |  | 0 | 0 | 7200 |
| SPDR GOLD TR | GOLD SHS | 78463V107 |  | 1769885 | 4979 | SH |  | SOLE |  | 4679 | 0 | 300 |
| SPDR INDEX SHS FDS | MSCI ACWI EXUS | 78463X848 |  | 299579 | 8579 | SH |  | SOLE |  | 8579 | 0 | 0 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 28507278 | 42792 | SH |  | SOLE |  | 16941 | 0 | 25851 |
| SPDR S MIDCAP 400 ETF TR | UTSER1 S | 78467Y107 |  | 1960783 | 3290 | SH |  | SOLE |  | 16 | 0 | 3274 |
| SPDR SERIES TRUST | PORTFOLIO S | 78468R853 |  | 1325273 | 28611 | SH |  | SOLE |  | 186 | 0 | 28425 |
| SPDR SERIES TRUST | S METALS MNG | 78464A755 |  | 4154655 | 44583 | SH |  | SOLE |  | 17967 | 0 | 26616 |
| SPDR SERIES TRUST | S OILGAS EXP | 78468R556 |  | 2349920 | 17775 | SH |  | SOLE |  | 6867 | 0 | 10908 |
| SPIRE GLOBAL INC | COM CL A NEW | 848560306 |  | 548478 | 49907 | SH |  | SOLE |  | 8103 | 0 | 41804 |
| STAGWELL INC | COM CL A | 85256A109 |  | 82181 | 14597 | SH |  | SOLE |  | 14597 | 0 | 0 |
| STEEL DYNAMICS INC | COM | 858119100 |  | 9294962 | 66664 | SH |  | SOLE |  | 495 | 0 | 66169 |
| TANGER INC | COM | 875465106 |  | 550306 | 16262 | SH |  | SOLE |  | 0 | 0 | 16262 |
| TARGA RES CORP | COM | 87612G101 |  | 10370223 | 61897 | SH |  | SOLE |  | 3212 | 0 | 58685 |
| TECHPRECISION CORP | COM NEW | 878739200 |  | 1666201 | 312608 | SH |  | SOLE |  | 25238 | 0 | 287370 |
| TECOGEN INC NEW | COM NEW | 87876P201 |  | 380354 | 43173 | SH |  | SOLE |  | 7445 | 0 | 35728 |
| TESLA INC | COM | 88160R101 |  | 3451027 | 7760 | SH |  | SOLE |  | 0 | 0 | 7760 |
| THERMO FISHER SCIENTIFIC INC | COM | 883556102 |  | 1311979 | 2705 | SH |  | SOLE |  | 0 | 0 | 2705 |
| TIPTREE INC | COM | 88822Q103 |  | 361355 | 18850 | SH |  | SOLE |  | 3230 | 0 | 15620 |
| TIZIANA LIFE SCIENCES LTD | COMMON SHARES | G88912103 |  | 66312 | 30700 | SH |  | SOLE |  | 0 | 0 | 30700 |
| T-MOBILE US INC | COM | 872590104 |  | 1407554 | 5880 | SH |  | SOLE |  | 0 | 0 | 5880 |
| TORTOISE CAPITAL SERIES TRUS | NORTH AMERN PIPE | 890930308 |  | 1410262 | 38690 | SH |  | SOLE |  | 9989 | 0 | 28701 |
| UNION PAC CORP | COM | 907818108 |  | 342027 | 1447 | SH |  | SOLE |  | 0 | 0 | 1447 |
| UNIVERSAL DISPLAY CORP | COM | 91347P105 |  | 205391 | 1430 | SH |  | SOLE |  | 0 | 0 | 1430 |
| VANECK ETF TRUST | SEMICONDUCTR ETF | 92189F676 |  | 4009118 | 12284 | SH |  | SOLE |  | 7156 | 0 | 5128 |
| VANECK ETF TRUST | JUNIOR GOLD MINE | 92189F791 |  | 247575 | 2500 | SH |  | SOLE |  | 0 | 0 | 2500 |
| VANGUARD INDEX FDS | GROWTH ETF | 922908736 |  | 225596 | 470 | SH |  | SOLE |  | 0 | 0 | 470 |
| VANGUARD INDEX FDS | EXTEND MKT ETF | 922908652 |  | 622787 | 2975 | SH |  | SOLE |  | 0 | 0 | 2975 |
| VANGUARD INDEX FDS | VALUE ETF | 922908744 |  | 372865 | 1999 | SH |  | SOLE |  | 0 | 0 | 1999 |
| VANGUARD SPECIALIZED FUNDS | DIV APP ETF | 921908844 |  | 295358 | 1369 | SH |  | SOLE |  | 0 | 0 | 1369 |
| VERTIV HOLDINGS CO | COM CL A | 92537N108 |  | 20564632 | 136316 | SH |  | SOLE |  | 26904 | 0 | 109412 |
| VIRTRA INC | COM PAR | 92827K301 |  | 252254 | 47957 | SH |  | SOLE |  | 12040 | 0 | 35917 |
| VISA INC | COM CL A | 92826C839 |  | 919389 | 2693 | SH |  | SOLE |  | 141 | 0 | 2552 |
| WESTERN DIGITAL CORP | COM | 958102105 |  | 49449232 | 411871 | SH |  | SOLE |  | 84805 | 0 | 327066 |
| XCEL ENERGY INC | COM | 98389B100 |  | 2762746 | 34256 | SH |  | SOLE |  | 100 | 0 | 34156 |

---