#	Issuer	Ticker	Shares	Value	% of Portfolio
1	MICROSOFT CORP	MSFT	20,278	$9,807	7.55%
2	HECLA MNG CO	422704106	473,169	$9,080	6.99%
3	NEWMONT CORP	NEMCL	80,665	$8,054	6.20%
4	PAN AMERN SILVER CORP F	697900108	143,075	$7,413	5.71%
5	ANGLOGOLD ASHANTI PLC F	AU	86,910	$7,412	5.71%
6	ISHARES SILVER TRUST ETF	SLV	97,230	$6,264	4.82%
7	TUTOR PERINI CORP	TPC	72,497	$4,859	3.74%
8	M&T BK CORP	MTB-PK	22,414	$4,516	3.48%
9	CEMEX S A B DE C V F SPONSORED	CXMSF	376,017	$4,320	3.33%
10	ALCOA CORP	AA	76,435	$4,062	3.13%
11	RANGE RESOURCES CORP	RRC	97,498	$3,438	2.65%
12	PETROLEO BRASILEIRO SA F SPONS	71654v408	288,600	$3,420	2.63%
13	BLACK HILLS CORP	BKH	46,257	$3,211	2.47%
14	NUTRIEN LTD F	NTR	51,081	$3,153	2.43%
15	TOTALENERGIES F	TTE	47,185	$3,087	2.38%
16	INTERNATIONAL SEAWAYS INC	INSW	58,834	$2,856	2.20%
17	AMGEN INC	AMGN	8,490	$2,779	2.14%
18	TELEFONICA BRASIL SA F SPONSOR	VIV	224,233	$2,659	2.05%
19	INNOVEX INTL INC EQUITY CLASS	INVX	121,535	$2,658	2.05%
20	BUNGE GLOBAL SA F	BG	29,206	$2,602	2.00%