Pekin Hardy Strauss, Inc.

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 10, 2025), Pekin Hardy Strauss, Inc. reported 403 stock positions worth $990.6 million. Its top holding was Sprott Physical Gold Trust (PHYS) at 12.7% of the portfolio, followed by Berkshire Hathaway Class B (BRK.B, 2.0%) and Vaneck Gold Miners ETF (GDX, 1.9%). Compared with Q2 2025, it opened 70 new positions, sold out of 22, added to 144 and reduced 144. The biggest buy was a new position in Two Harbors Investment (TWO) and the biggest sale Wesco International (WCC, shares −92%).

Most Recent 13F
Q2 2026
Location
CHICAGO, IL
CIK
0001020317
Portfolio Value
$990.6M (Q3 2025)
SEC Filing
0001020317-25-000002 ↗ filed Nov 10, 2025

Holdings Value

0$500.0M$1.0B$1.5B Q1 2024: $728.6M Q1 2024 Q2 2024: $725.3M Q2 2024 Q3 2024: $780.2M Q3 2024 Q4 2024: $784.6M Q4 2024 Q1 2025: $821.1M Q1 2025 Q2 2025: $873.7M Q2 2025 Q3 2025: $990.6M $990.6M Q3 2025 Q4 2025: $1.1B Q4 2025 Q1 2026: $955.9M Q1 2026 Q2 2026: $1.1B Q2 2026

Holdings 403 stocks · $990.6M

PHYS Sprott Physical Gold Trust 12.74% 4,261,570 $126.2M Reduce -1.1%
BRK.B Berkshire Hathaway Inc. Class B 1.98% 39,088 $19.7M Reduce -4.4%
GDX Vaneck Gold Miners ETF 1.86% 240,782 $18.4M Reduce -0.8%
CCJ Cameco Corp. 1.75% 206,984 $17.4M Reduce -10.2%
CEF Sprott Physical Gold and Sil 1.70% 457,967 $16.8M Reduce -0.6%
PSLV Sprott Physical Silver Trust 1.51% 949,716 $14.9M Add +7.9%
IBIT iShares Bitcoin Trust ETF 1.49% 226,958 $14.8M Add +5.7%
AEM Agnico Eagle Mines Ltd. 1.46% 85,532 $14.4M Reduce -0.4%
MTBA Simplify MBS ETF 1.42% 279,952 $14.1M Add +2.1%
AAPL Apple Inc. 1.35% 52,343 $13.3M Reduce -2.9%
XOM Exxon Mobil Corp. 1.28% 112,796 $12.7M Reduce -3.3%
OUNZ Vaneck Merk Gold ETF 1.21% 323,178 $12.0M Reduce -3.9%
AER Aercap Holdings NV 1.17% 95,573 $11.6M Add +7.3%
EWZ iShares MSCI Brazil ETF 1.15% 366,515 $11.4M Add +8.3%
DG Dollar General Corp. 1.11% 106,617 $11.0M Add +5.8%
GOOGL Alphabet Inc. Class A 1.09% 44,493 $10.8M Reduce -3.0%
GOOG Alphabet Inc. Class C 1.01% 40,903 $10.0M Reduce -2.9%
MSFT Microsoft Corp. 0.98% 18,816 $9.7M Add +3.3%
AGI Alamos Gold Inc. Class A 0.93% 263,844 $9.2M Add +1.4%
HUM Humana Inc. 0.92% 34,888 $9.1M Add +0.9%
CF CF Industries Holdings Inc. filed as CF INDS HLDGS INC 0.91% 100,879 $9.0M Reduce -0.1%
CEG Constellation Energy 0.89% 26,727 $8.8M Reduce -2.2%
GXO Gxo Logistics Inc. 0.87% 162,944 $8.6M Reduce -2.5%
EMLC Vaneck JPM Em Local Curr BND 0.86% 333,273 $8.5M Add +6.0%
MOS The Mosaic Co. 0.84% 240,291 $8.3M Reduce -10.0%
LULU Lululemon Athletica Inc. 0.84% 46,712 $8.3M Add +70.0%
ITRN Ituran Location and Control 0.83% 230,308 $8.2M Add +29.1%
SM SM Energy Co. 0.81% 319,401 $8.0M Add +4.7%
DVN Devon Energy Corp. 0.80% 226,542 $7.9M Reduce -1.7%
ET Energy Transfer LP 0.79% 457,462 $7.9M Reduce -1.8%
EWY iShares MSCI South Korea ETF 0.73% 90,637 $7.3M Add +7.8%
AGNC AGNC Investment Corp. 0.73% 741,567 $7.3M Reduce -35.1%
PPLT Abrdn Physical Platinum SHRS 0.73% 50,449 $7.2M Add +90.4%
ABBV Abbvie Inc. 0.72% 31,018 $7.2M Reduce -1.8%
CZR Caesars Entertainment Inc. 0.72% 264,658 $7.2M Add +23.2%
EMXC iShares MSCI Emr MRK Ex Chna 0.71% 103,606 $7.0M Add +4.5%
IAU iShares Gold Trust 0.70% 95,756 $7.0M Reduce -0.9%
LYB Lyondellbasell Indu Class A 0.69% 139,758 $6.9M Add +21.2%
WMT Walmart Inc. 0.65% 62,823 $6.5M Reduce -2.6%
AMZN Amazon.com Inc. 0.61% 27,586 $6.1M Add +3.3%
SWK Stanley Black & Decker Inc. 0.60% 80,424 $6.0M Reduce -10.6%
SLB SLB Ltd. filed as SCHLUMBERGER LTD 0.60% 173,124 $6.0M Add +859.0%
DEA Easterly Government Properti 0.59% 256,166 $5.9M Add +9.8%
AR Antero Resources Corp. 0.59% 173,835 $5.8M Add +20.6%
ETHA iShares Ethereum Trust ETF 0.58% 182,411 $5.7M Add +35.3%
CRL Charles River Laboratories 0.57% 36,060 $5.6M Reduce -6.1%
WLFC Willis Lease Finance Corp. 0.57% 40,977 $5.6M Add +2.9%
EWW iShares MSCI Mexico ETF 0.56% 81,303 $5.5M Add +3.5%
CC The Chemours Co. 0.55% 341,553 $5.4M Reduce -10.2%
TWO Two Harbors Investment Corp. filed as TWO HBRS INVT CORP 0.54% 539,526 $5.3M New
EPD Enterprise Products Partners 0.51% 160,333 $5.0M Reduce -1.4%
INDA iShares MSCI India ETF 0.51% 96,177 $5.0M Add +4.7%
PM Philip Morris International 0.50% 30,388 $4.9M Reduce -7.0%
NVDA Nvidia Corp. 0.50% 26,391 $4.9M Add +48.6%
SU Suncor Energy Inc. 0.48% 113,489 $4.7M Reduce -25.9%
GBTC Grayscale Bitcoin Trust ETF 0.47% 51,538 $4.6M Reduce -4.0%
DSX Diana Shipping Inc. 0.46% 2,704,331 $4.5M Reduce -4.8%
CAG Conagra Brands Inc. 0.45% 244,402 $4.5M New
NICE Nice Ltd. - Spon ADR 0.45% 30,459 $4.4M New
MUFG Mitsubishi Ufj Finl-Spon ADR 0.44% 274,289 $4.4M Add +2.4%
ALEX Alexander & Baldwin Inc. 0.44% 238,505 $4.3M Reduce -22.6%
BTI British American Tob-SP ADR 0.43% 80,973 $4.3M Reduce -2.4%
NVS Novartis AG-Sponsored ADR 0.42% 32,566 $4.2M Reduce -2.8%
CVX Chevron Corp. 0.42% 26,885 $4.2M Reduce -6.5%
PPTA Perpetua Resources Corp. 0.40% 195,889 $4.0M Add +44.0%
IVOL Quadratic Int Rte Vol Infl H 0.40% 205,122 $4.0M Add +12.2%
PEP Pepsico Inc. 0.39% 27,748 $3.9M Add +0.3%
VYM Vanguard High DVD Yield ETF 0.39% 27,453 $3.9M Reduce -1.2%
XLE SS Energy Select Sector 0.39% 43,024 $3.8M Reduce -5.2%
ETN Eaton Corp. PLC 0.38% 10,046 $3.8M Reduce -2.6%
DEO Diageo PLC-Sponsored ADR 0.38% 39,258 $3.7M Reduce -18.9%
FXY Invesco Currencyshares Japan 0.37% 58,224 $3.6M Reduce -5.9%
HLF Herbalife Ltd. 0.36% 426,682 $3.6M Reduce -2.4%
GDXJ Vaneck Junior Gold Miners 0.35% 35,134 $3.5M Add +6.3%
NGD New Gold Inc. 0.35% 484,250 $3.5M Add +2.1%
MO Altria Group Inc. 0.35% 52,509 $3.5M Add +4.7%
VFC VF Corp. 0.34% 234,770 $3.4M Reduce -31.2%
CDX Simplify High Yield ETF 0.33% 143,753 $3.3M Add +51.8%
SKE Skeena Resources Ltd. 0.33% 176,923 $3.3M Add +27.4%
SIL Global X Silver Miners ETF 0.32% 44,673 $3.2M Add +2.3%
JPM JPMorgan Chase & Co. 0.32% 10,080 $3.2M Add +4.8%
MLPA Global X MLP ETF 0.32% 65,011 $3.1M Add +0.2%
EXC Exelon Corp. 0.31% 69,083 $3.1M Reduce -2.4%
SSNC Ss&c Technologies Holdings 0.31% 34,545 $3.1M Reduce -10.4%
NPK National Presto Inds Inc. 0.31% 27,115 $3.0M Add +1.0%
TPB Turning Point Brands Inc. 0.30% 30,215 $3.0M Reduce -9.2%
SGOL Abrdn Physical Gold Shares 0.30% 80,585 $3.0M Reduce -0.7%
GRVY Gravity Co. Ltd.-Sponsored ADR 0.30% 45,742 $2.9M Reduce -5.9%
HL Hecla Mining Co. 0.29% 240,070 $2.9M Reduce -2.5%
VIG Vanguard Dividend Apprec ETF 0.29% 13,406 $2.9M Reduce -0.8%
NEM Newmont Corp. 0.29% 34,256 $2.9M Add +6.0%
CME Cme Group Inc. 0.29% 10,512 $2.8M Add +0.1%
FNV Franco-Nevada Corp. 0.28% 12,401 $2.8M Reduce -0.8%
BLK BlackRock Inc. 0.28% 2,359 $2.8M Add +3.3%
JNJ Johnson & Johnson 0.27% 14,585 $2.7M Reduce -8.1%
CBOE Cboe Global Markets Inc. 0.26% 10,683 $2.6M Reduce -0.8%
SAN Banco Santander SA-Spon ADR 0.26% 249,110 $2.6M Add +3.3%
WES Western Midstream Partners L 0.26% 66,200 $2.6M Reduce -0.3%
MDT Medtronic PLC 0.26% 26,990 $2.6M Reduce -37.8%
EWT iShares MSCI Taiwan ETF 0.25% 39,205 $2.5M Add +109.2%
INFL Horizon Kinetics Infl Benef 0.25% 55,748 $2.5M Reduce -3.5%
AMLP Alerian MLP ETF 0.25% 52,591 $2.5M Add +1.7%
TEI Templeton Emrg MKTS Inc. 0.25% 397,060 $2.5M Add +58.0%
XME SS SPDR S&P Metals Mining 0.25% 26,364 $2.5M Reduce -0.8%
BX Blackstone Inc. 0.24% 13,876 $2.4M Reduce -1.1%
SLV iShares Silver Trust 0.23% 54,265 $2.3M Reduce -1.8%
ARDX Ardelyx Inc. 0.22% 402,230 $2.2M Reduce -13.2%
MCD McDonald's Corp. 0.22% 7,061 $2.1M Reduce -4.1%
CNI Canadian Natl Railway Co. 0.22% 22,646 $2.1M Reduce -3.8%
USCI United States Commodity Inde 0.21% 27,317 $2.1M No change
NRP Natural Resource Partners LP 0.21% 20,225 $2.1M Add +1.3%
JOF Japan Smaller Capitalization 0.21% 197,467 $2.1M Add +116.0%
DVYE iShares Emerging Markets Div 0.21% 69,882 $2.1M Add +803.5%
ABT Abbott Laboratories 0.21% 15,376 $2.1M Reduce -1.9%
CTA Simplify Managed Futures St 0.21% 73,580 $2.1M Add +15.3%
JAPN Horizon Kinetics Japan Owner 0.21% 73,035 $2.1M Add +191.6%
GBFH Gbank Financial Holdings Inc. 0.21% 51,825 $2.0M Add +0.2%
HSBC HSBC Holdings PLC-Spons ADR filed as HSBC HLDGS PLC 0.20% 28,368 $2.0M Add +7.0%
VNM Vaneck Vietnam ETF 0.20% 112,345 $2.0M New
RRC Range Resources Corp. 0.20% 51,486 $1.9M Add +2.2%
SGDM Sprott Gold Miners ETF 0.19% 31,051 $1.9M Reduce -0.8%
TECK Teck Resources Ltd.-CLS B 0.19% 43,049 $1.9M Reduce -6.0%
UNH Unitedhealth Group Inc. 0.19% 5,435 $1.9M Add +68.2%
LNG Cheniere Energy Inc. 0.19% 7,868 $1.8M Reduce -4.1%
BLDR Builders Firstsource Inc. 0.18% 15,001 $1.8M Add +2.7%
SMFG Sumitomo Mitsui-Spons ADR 0.18% 107,225 $1.8M Add +14.3%
MPLX MPLX LP 0.18% 35,465 $1.8M Reduce -0.3%
IA Innovative Solutions & Supp 0.18% 139,700 $1.7M Add +23.1%
SILJ Amplify Junior Silver Miners 0.18% 75,529 $1.7M Add +3.2%
LVS Las Vegas Sands Corp. 0.18% 32,369 $1.7M Add +8.2%
EOG EOG Resources Inc. 0.18% 15,504 $1.7M Reduce -21.3%
MRK Merck & Co. Inc. 0.17% 20,375 $1.7M Reduce -7.6%
SPY SS SPDR S&P 500 ETF Trust-US 0.17% 2,517 $1.7M Add +4.3%
KO The Coca-Cola Co. 0.17% 24,919 $1.7M Add +1.1%
V Visa Inc. Class A 0.17% 4,835 $1.7M Add +0.9%
EMR Emerson Electric Co. 0.16% 12,393 $1.6M Reduce -0.4%
URTH iShares MSCI World ETF 0.16% 8,800 $1.6M No change
OXY Occidental Petroleum Corp. 0.16% 33,811 $1.6M Reduce -2.1%
GE General Electric filed as GE AEROSPACE 0.16% 5,271 $1.6M Add +1.4%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.16% 14,232 $1.6M Reduce -7.7%
SLRC SLR Investment Corp. 0.15% 100,400 $1.5M Reduce -0.3%
VTV Vanguard Mrngstr Val ETF-Aui 0.15% 8,145 $1.5M Add +2.3%
VUG Vanguard Mrngstar GR ETF-Sui 0.15% 3,148 $1.5M Add +19.8%
RTX RTX Corp. 0.15% 8,886 $1.5M Reduce -0.4%
NXE Nexgen Energy Ltd. 0.15% 164,200 $1.5M Reduce -3.0%
GSM Ferroglobe PLC 0.14% 315,400 $1.4M Add +7.0%
BIL SS SPDR BB 1-3M T-Bill ETF 0.14% 15,514 $1.4M Add +59.2%
BMY Bristol-Myers Squibb Co. 0.14% 31,337 $1.4M Add +1.2%
ARLP Alliance Resource Partners 0.14% 55,705 $1.4M Reduce -0.9%
EWS iShares MSCI Singapore ETF 0.14% 49,365 $1.4M Add +267.2%
FCX Freeport-McMoran Inc. 0.14% 35,467 $1.4M Reduce -5.8%
VTIP Vanguard Short-Term Tips 0.14% 26,403 $1.3M Reduce -5.0%
VZ Verizon Communications Inc. 0.13% 29,683 $1.3M Reduce -5.5%
AON Aon PLC Class A 0.13% 3,636 $1.3M Reduce -2.0%
PAVE Global X US Infrastructure 0.13% 27,015 $1.3M Reduce -0.7%
HOOD Robinhood Markets Inc. Class A 0.13% 8,800 $1.3M Add +10.0%
AM Antero Midstream Corp. 0.13% 64,000 $1.2M Reduce -0.8%
WPM Wheaton Precious Metals Corp. 0.12% 10,869 $1.2M Reduce -1.4%
VST Vistra Corp. 0.12% 6,165 $1.2M No change
HD Home Depot Inc. 0.12% 2,980 $1.2M Add +2.9%
PFIX Simplify Interest Rate Hedge 0.12% 24,685 $1.2M Reduce -5.7%
BILS SS Spdrb B 3-12M T-Bill ETF 0.12% 11,900 $1.2M Add +25.4%
BG Bunge Global SA 0.12% 14,405 $1.2M Reduce -1.4%
VAL Valaris Ltd. 0.12% 23,955 $1.2M Add +20.9%
FEZ State Street SPDR Euro Stoxx 0.12% 18,700 $1.2M Add +0.7%
AMD Advanced Micro Devices 0.12% 7,055 $1.1M Add +0.4%
META Meta Platforms Inc. Class A 0.11% 1,526 $1.1M Add +10.7%
EC Ecopetrol SA-Sponsored ADR 0.11% 121,323 $1.1M Reduce -2.6%
WM Waste Management Inc. 0.11% 5,027 $1.1M Reduce -8.1%
BIT BlackRock Multi-Sector Inc. 0.11% 82,565 $1.1M Add +17.3%
ASA ASA Gold and Precious Metals 0.11% 23,470 $1.1M Reduce -15.5%
MOAT Vaneck Morningstar Wide Moat 0.11% 10,845 $1.1M Reduce -3.6%
CB Chubb Ltd. 0.11% 3,737 $1.1M Add +0.1%
FEIM Frequency Electronics Inc. 0.11% 31,025 $1.1M Add +21.9%
WCC Wesco International Inc. 0.11% 4,936 $1.0M Reduce -91.9%
MIAX Miami International Holdings 0.10% 25,650 $1.0M New
ENB Enbridge Inc. 0.10% 20,360 $1.0M Add +0.1%
TDW Tidewater Inc. 0.10% 19,199 $1.0M Add +6.3%
AXP American Express Co. 0.10% 3,049 $1.0M Reduce -3.9%
VBR Vngrd Mrngst SL-CP Val ETF-U 0.10% 4,830 $1.0M Add +1.4%
VLO Valero Energy Corp. 0.10% 5,915 $1.0M Add +8.3%
UNP Union Pacific Corp. 0.10% 4,250 $1.0M No change
IVV iShares Core S&P 500 ETF 0.10% 1,495 $1.0M Add +192.0%
BITB Bitwise Bitcoin ETF 0.10% 15,975 $994K Reduce -18.9%
CNC Centene Corp. 0.10% 27,688 $988K No change
AEP American Electric Power 0.10% 8,649 $973K Add +0.8%
ELD Wisdomtree Emrg MKTS Debt 0.10% 33,718 $969K New
ILF iShares Latin America 40 ETF 0.10% 33,212 $959K Reduce -7.0%
VCSH Vanguard S/T Corp. Bond ETF 0.10% 11,907 $952K Reduce -3.4%
OSISKO DEVELOPMENT CORP 0.10% 278,500 $944K Add +76.8%
NATH Nathan's Famous Inc. 0.10% 8,500 $941K Reduce -6.6%
ALL Allstate Corp. 0.09% 4,308 $925K Reduce -5.3%
PSA Public Storage 0.09% 3,176 $917K Reduce -3.6%
DOUG Douglas Elliman Inc. 0.09% 315,500 $902K Add +23.5%
ITA iShares U.S. Aerospace & Def 0.09% 4,297 $899K No change
QCOM Qualcomm Inc. 0.09% 5,382 $895K Add +43.5%
HNRG Hallador Energy Co. 0.09% 45,600 $892K Add +41.4%
OMAB Grupo Aeroportuario Cen-ADR 0.09% 8,495 $882K Reduce -5.7%
NEE Nextera Energy Inc. 0.09% 11,669 $881K Add +4.5%
SPG Simon Property Group Inc. 0.09% 4,490 $843K No change
COST Costco Wholesale Corp. 0.08% 900 $833K Add +2.4%
BABA Alibaba Group Holding-SP ADR 0.08% 4,628 $827K New
RA Brookfield Real Assets Incom 0.08% 61,729 $825K Add +12.6%
DBA Invesco DB Agriculture Fund 0.08% 30,670 $821K Add +0.3%
PG The Procter & Gamble Co. 0.08% 5,325 $818K Add +2.1%
VALE Vale SA-SP ADR 0.08% 74,479 $809K Reduce -12.3%
TSLA Tesla Inc. 0.08% 1,816 $808K Add +9.3%
IGSB iShares 1-5Y Inv Grade Corp. 0.08% 14,790 $784K No change
CFG Citizens Financial Group 0.08% 14,721 $783K Add +2.5%
GD General Dynamics Corp. 0.08% 2,274 $775K Add +3.4%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.08% 2,708 $764K Reduce -6.7%
NKE Nike Inc. Class B 0.08% 10,901 $760K Reduce -10.3%
VET Vermilion Energy Inc. 0.08% 96,375 $753K Add +0.5%
GGAL Grupo Financiero Galicia-ADR 0.08% 27,300 $752K New
BUD Anheuser-Busch Inbev-SPN ADR 0.08% 12,481 $744K Reduce -0.5%
CPNG Coupang Inc. 0.07% 22,900 $737K No change
BORR Borr Drilling Ltd. 0.07% 273,250 $735K New
VRP Invesco Variable Rate Prefer 0.07% 29,685 $733K Reduce -7.0%
TUA Sim St Treas Fut Strat ETF filed as SIMPLIFY EXCHANGE TRADED FUN 0.07% 32,965 $721K Reduce -74.9%
AVAV Aerovironment Inc. 0.07% 2,275 $716K No change
NTR Nutrien Ltd. 0.07% 11,741 $690K Add +0.4%
FXF Invesco Currencyshares Swiss 0.07% 6,090 $677K Add +8.9%
FDX FedEx Corp. 0.07% 2,871 $677K Reduce -10.9%
CTRA Coterra Energy Inc. 0.07% 27,729 $656K Reduce -13.0%
PRTH Priority Technology Holdings 0.07% 95,400 $655K Add +55.4%
COP Conocophillips 0.07% 6,847 $648K Reduce -0.3%
HON Honeywell International Inc. 0.07% 3,066 $645K Add +2.9%
TSM Taiwan Semiconductor-SP ADR 0.06% 2,272 $635K Add +0.5%
NLY Annaly Capital Management Inc. 0.06% 31,274 $632K No change
WTFC Wintrust Financial Corp. 0.06% 4,750 $629K No change
ADP Automatic Data Processing 0.06% 2,126 $624K No change
GUNR NT Mstar GLBL NR ETF 0.06% 14,120 $618K Reduce -10.8%
COPX Global X Copper Miners ETF 0.06% 9,865 $590K Add +0.2%
ZBRA Zebra Technologies Corp. Class A 0.06% 1,945 $578K Add +0.5%
HCC Warrior Met Coal Inc. 0.06% 9,075 $578K Add +12.4%
XLI SS Industrial Select Sector 0.06% 3,716 $573K No change
T AT&T Inc. 0.06% 20,253 $572K Add +1.1%
ELV Elevance Health Inc. 0.06% 1,755 $567K New
SOC Sable Offshore Corp. 0.06% 32,240 $563K Reduce -5.8%
KDEF Plus Korea Defns Ind Id ETF 0.06% 11,000 $546K Add +37.5%
EXE Expand Energy Corp. 0.05% 5,025 $534K Reduce -1.7%
LLY Eli Lilly & Co. 0.05% 694 $530K Add +7.8%
GVAL Cambria Global Value ETF 0.05% 18,095 $529K Reduce -0.6%
PLTR Palantir Technologies Inc. Class A 0.05% 2,888 $527K Reduce -12.9%
TSEM Tower Semiconductor Ltd. 0.05% 7,210 $521K New
VTRS Viatris Inc. 0.05% 52,354 $518K No change
BCS Barclays PLC-Spons ADR 0.05% 24,950 $516K Add +6.4%
VCIT Vanguard Int-Term Corporate 0.05% 6,024 $507K Reduce -3.5%
GNK Genco Shipping & Trading Ltd. 0.05% 28,235 $503K No change
BTC Grayscale Bitcoin Mini ETF 0.05% 9,922 $502K Reduce -2.3%
NG Novagold Resources Inc. 0.05% 57,000 $502K Add +171.4%
VWO Vanguard Ftse Emerging Marke 0.05% 9,217 $499K Add +9.6%
URNM Sprott Uranium Miners ETF 0.05% 8,255 $499K No change
XOP SS SPDR S&P Og Exp & Prod 0.05% 3,745 $495K Reduce -0.4%
CCNE CNB Financial Corp. 0.05% 20,020 $484K Reduce -18.7%
FLEX Flex Ltd. 0.05% 8,250 $478K Add +5.1%
RBLX Roblox Corp. Class A 0.05% 3,430 $475K No change
SBUX Starbucks Corp. 0.05% 5,551 $470K Add +0.0%
SRBK Sr Bancorp Inc. 0.05% 31,000 $468K Add +6.9%
AAAU Goldman Sachs Physical Gold 0.05% 12,200 $465K No change
PBI Pitney Bowes Inc. 0.05% 40,587 $463K New
SNY Sanofi-ADR 0.05% 9,687 $457K No change
FXI iShares China Large-Cap ETF 0.05% 11,000 $453K New
UTES Virtus Reaves Utilities ETF 0.05% 5,400 $451K Reduce -8.5%
PONY Pony AI Inc. 0.05% 20,000 $450K New
GILD Gilead Sciences Inc. 0.04% 3,990 $443K Reduce -15.3%
EWJ iShares MSCI Japan ETF 0.04% 5,486 $440K Add +5.8%
LWAY Lifeway Foods Inc. 0.04% 15,750 $437K Add +6.8%
LMT Lockheed Martin Corp. 0.04% 870 $434K Add +6.8%
VRTX Vertex Pharmaceuticals Inc. 0.04% 1,106 $433K New
CAT Caterpillar Inc. 0.04% 889 $424K Add +0.3%
SONY Sony Group Corp. - SP ADR 0.04% 14,722 $424K Reduce -86.8%
HR Healthcare Realty Trust Inc. 0.04% 23,500 $424K Add +27.0%
SPGI S&P Global Inc. 0.04% 849 $413K Add +6.5%
ORCL Oracle Corp. 0.04% 1,463 $411K Add +27.8%
WTW Willis Towers Watson PLC 0.04% 1,170 $404K Reduce -15.4%
PBR Petroleo Brasileiro-Spon ADR 0.04% 31,852 $403K No change
AEC Anfield Energy Inc. 0.04% 39,750 $402K New
TIP iShares Tips Bond ETF 0.04% 3,596 $400K Reduce -13.3%
ARKF ARK Blockchain & Fintech Inn 0.04% 7,020 $399K No change
SFM Sprouts Farmers Market Inc. 0.04% 3,645 $397K Reduce -5.8%
LXU LSB Industries Inc. 0.04% 50,250 $396K Reduce -18.3%
BMNR Bitmine Immersion Technologi 0.04% 7,625 $396K New
ECH iShares MSCI Chile ETF 0.04% 12,006 $396K Add +3.1%
HE Hawaiian Electric Inds 0.04% 35,000 $386K New
VPG Vishay Precision Group 0.04% 11,965 $383K Reduce -4.3%
SAP Sap SE-Sponsored ADR 0.04% 1,430 $382K Reduce -15.1%
BP BP PLC-Spons ADR 0.04% 11,046 $381K Reduce -1.3%
EVR Evercore Inc. Class A 0.04% 1,125 $379K Reduce -2.2%
FCG First Trust Natural Gas ETF 0.04% 16,145 $379K Add +1.7%
KWEB Kranesh Csi China Internet 0.04% 9,024 $379K New
NTAP Netapp Inc. 0.04% 3,196 $379K New
PBF PBF Energy Inc. Class A 0.04% 12,500 $377K Reduce -3.9%
HIGH Simplify Enhanced Income ETF 0.04% 16,325 $377K Reduce -10.5%
BA The Boeing Co. 0.04% 1,731 $374K Add +1.8%
XBI SS SPDR S&P Biotech ETF 0.04% 3,686 $369K Add +38.8%
ITUB Itau Unibanco H-Spon PRF ADR 0.04% 49,805 $366K Add +8.0%
LIN Linde PLC 0.04% 764 $363K Add +2.0%
FOXY Simplify Currency Strtgy ETF 0.04% 12,940 $357K New
PALL Abrdn Physical Palladium SHS 0.04% 3,120 $356K Reduce -2.5%
INFQ Infleqtion Inc. filed as CHURCHILL CAP CORP X 0.04% 27,650 $356K New
USB US Bancorp 0.04% 7,325 $354K Add +9.8%
MLPX Global X MLP & Energy Infras 0.04% 5,600 $351K No change
METCB Ramaco Resources Inc. Class B 0.04% 20,738 $349K New
SBSW Sibanye-Stillwater Ltd.-ADR 0.04% 31,000 $348K No change
NRG NRG Energy Inc. 0.04% 2,150 $348K No change
DFIV Dimensional International Va 0.03% 7,476 $345K Add +5.2%
GEL Genesis Energy L.P. 0.03% 20,500 $343K No change
EME Emcor Group Inc. 0.03% 525 $341K Reduce -16.0%
UTF Cohen & Steers Infrastructur 0.03% 13,625 $338K No change
QQQ Invesco QQQ Trust Series 1 0.03% 560 $336K New
DHT DHT Holdings Inc. 0.03% 28,000 $335K Reduce -41.0%
PH Parker Hannifin Corp. 0.03% 441 $334K Add +10.3%
CVS CVS Health Corp. 0.03% 4,325 $326K No change
PSTL Postal Realty Trust Inc. Class A 0.03% 20,665 $324K Reduce -1.9%
IAUX I-80 Gold Corp. 0.03% 335,000 $320K New
GRID First TRST Nasd Class Edg Sgiif 0.03% 2,114 $319K New
IWF iShares Russell 1000 Growth 0.03% 673 $315K New
AVGO Broadcom Inc. 0.03% 955 $315K New
MSOS Advisorshares Pure US Cann 0.03% 65,491 $314K Add +342.8%
CLF Cleveland-Cliffs Inc. 0.03% 25,600 $312K Reduce -13.5%
AFK Vaneck Africa Index ETF 0.03% 12,775 $311K New
XLF SS Financial Select Sector 0.03% 5,765 $311K No change
FCNCA First Citizens Bcshs Class A 0.03% 173 $310K Add +64.8%
WDC Western Digital Corp. 0.03% 2,519 $302K New
KNRG Smplfy KYN Andr En & Infr CR filed as SIMPLIFY EXCHANGE TRADED FUN 0.03% 11,575 $301K New
MFC Manulife Financial Corp. 0.03% 9,674 $301K Reduce -7.2%
MLM Martin Marietta Materials 0.03% 473 $298K Reduce -3.5%
NSC Norfolk Southern Corp. 0.03% 992 $298K No change
VTI VG Morningstar TS MKT ETF-US 0.03% 899 $295K Add +1.6%
NE Noble Corp. PLC 0.03% 10,400 $294K No change
RELY Remitly Global Inc. 0.03% 18,000 $293K New
SHY iShares 1-3 Year Treasury Bo 0.03% 3,515 $292K New
BCH Banco DE Chile-ADR 0.03% 9,500 $288K New
HEI Heico Corp. 0.03% 887 $286K Add +4.3%
MCGA Yorkville Acquisition Corp. Class A 0.03% 26,500 $282K New
EPHE iShares MSCI Philippines ETF 0.03% 11,325 $281K New
AMPG Amplitech Group Inc. 0.03% 72,300 $281K New
AZN Astrazeneca PLC-Spons ADR 0.03% 3,650 $280K No change
PFE Pfizer Inc. 0.03% 10,709 $273K Reduce -11.2%
MS Morgan Stanley 0.03% 1,688 $268K Add +3.2%
AVAL Grupo Aval Acciones Y Valore 0.03% 80,000 $264K New
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.03% 894 $263K No change
IJH iShares Core S&P Midcap ETF 0.03% 4,017 $262K New
VB Vanguard Most SM-Cap ETF-Usd 0.03% 1,017 $259K Add +14.7%
SHEL Shell PLC-ADR 0.03% 3,613 $258K No change
EQT Eqt Corp. 0.03% 4,660 $254K Reduce -4.1%
IYE iShares U.S. Energy ETF 0.03% 5,325 $253K No change
ITW Illinois Tool Works 0.03% 966 $252K Reduce -0.8%
CAAP Corp. America Airports SA filed as CORPORACION AMER ARPTS S A 0.03% 13,765 $249K Reduce -49.5%
KB KB Financial Group Inc.-ADR filed as KB FINL GROUP INC 0.03% 3,000 $249K No change
RCL Royal Caribbean Cruises Ltd. 0.03% 764 $247K No change
CTAS Cintas Corp. 0.02% 1,196 $245K Add +12.8%
THRY Thryv Holdings Inc. 0.02% 19,250 $232K New
BSM Black Stone Minerals LP 0.02% 17,550 $231K Reduce -2.5%
TT Trane Technologies PLC 0.02% 546 $230K Add +9.2%
FOA Finance of America Cos Inc. Class A 0.02% 10,250 $230K New
KEP Korea Elec Power Corp.-SP ADR 0.02% 17,500 $228K New
EUFN iShares MSCI Europe Financia 0.02% 6,635 $228K No change
VOD Vodafone Group PLC-SP ADR 0.02% 19,200 $223K New
ETR Entergy Corp. 0.02% 2,380 $222K New
ASPI Asp Isotopes Inc. 0.02% 22,950 $221K New
BXMT Blackstone Mortgage Tru Class A 0.02% 11,883 $219K Reduce -6.3%
AB Alliancebernstein Holding LP 0.02% 5,704 $218K New
OIH Vaneck Oil Services ETF 0.02% 833 $217K New
ITB iShares U.S. Home Constructi 0.02% 2,000 $215K New
HASI Ha Sustainable Infrastructur 0.02% 6,965 $214K New
XYL Xylem Inc. 0.02% 1,440 $212K New
URNJ Sprott Jr Uranium Miners ETF 0.02% 7,250 $211K New
BRSL Brightstar Lottery PLC 0.02% 12,000 $207K New
WEC WEC Energy Group Inc. 0.02% 1,801 $206K New
ESGD iShares Trust iShares ESG Aw 0.02% 2,210 $205K New
EDD Morgan Stanley Emrg MRK Dom 0.02% 38,115 $205K Reduce -75.6%
NFLX Netflix Inc. 0.02% 171 $205K Add +6.9%
CQP Cheniere Energy Partners LP 0.02% 3,800 $205K Reduce -5.0%
AMGN Amgen Inc. 0.02% 724 $204K New
YUM Yum! Brands Inc. 0.02% 1,338 $203K New
DE Deere & Co. 0.02% 442 $202K New
APD Air Products & Chemicals Inc. 0.02% 736 $201K New
LOW Lowe's Cos Inc. 0.02% 798 $201K New
FAX Abrdn Asia-Pacific Income 0.02% 12,154 $198K Reduce -78.9%
DVS Dolly Varden Silver Ltd. 0.02% 35,000 $176K Add +55.6%
GAB Gabelli Equity Trust 0.02% 27,879 $170K No change
SOUN Soundhound AI Inc. Class A 0.02% 10,000 $161K No change
LCNB LCNB Corporation 0.02% 10,576 $159K No change
AIOT Powerfleet Inc. 0.02% 29,000 $152K No change
CRESY Cresud S.A.-Spons ADR 0.02% 16,250 $150K New
BRR Columbus Circle Capital Co. Class A 0.01% 13,000 $132K New
MLCO Melco Resorts & Entert-ADR 0.01% 14,000 $128K New
BWEN Broadwind Inc. 0.01% 53,000 $111K New
SEMR Semrush Holdings Inc. Class A 0.01% 15,675 $111K New
SNCR Synchronoss Technologies Inc. 0.01% 18,000 $109K New
HTLD Heartland Express Inc. 0.01% 12,000 $101K New
SJT San Juan Basin Royalty TR 0.01% 15,000 $91K New
NAK Northern Dynasty Minerals 0.01% 75,000 $90K Add +87.5%
EVLV Evolv Technologies Holdings 0.01% 10,000 $76K New
HIO Western Asset Hi Inc. Opport 0.01% 13,973 $54K Reduce -6.0%
DYAI Dyadic International Inc. 0.01% 41,745 $49K Reduce -11.2%
NOK Nokia Corp.-Spon ADR 0.00% 10,002 $48K No change
LYG Lloyds Banking Group PLC-ADR 0.00% 10,000 $45K No change
AWRE Aware Inc. 0.00% 17,500 $42K New
CLOV Clover Health Investments Co. 0.00% 10,500 $32K No change
VEEA INC 0.00% 16,500 $10K New

Options reported separately and not counted above: LLY calls ($2.1M).

Other holdings (5): bonds, preferreds, convertibles and warrants · $4.8M (not counted above)
SecurityClassShares / PrincipalValueChange
LUMENTUM HOLDINGS INC (LITE 0.5 12/15/26) NOTE 0.500%12/1 · principal 2,000,000$3.4MNo change
BLOCK INC (XYZ 0.25 11/01/27) NOTE 0.250%11/0 · principal 760,000$691KReduce -3.2%
WELLS FARGO & COMPANY (WFC 7.5 PERP L) PERP PFD CNV A 419$517KReduce -4.6%
BANK OF AMERICA CORP (BAC 7.25 PERP L) 7.25%CNV PFD L 178$228KReduce -7.8%
COHEN & STEERS INFRASTRU RIGHT 10/16/2025 13,625$1KNo change

Total filed on the 13F, all lines: $995.4M.

Portfolio Sells Q2 2025 → Q3 2025

WCC Wesco International Inc. Reduce -91.9% 0.11% −1.18
AGNC AGNC Investment Corp. Reduce -35.1% 0.73% −0.47
SONY Sony Group Corp. - SP ADR Reduce -86.8% 0.04% −0.29
BRK.B Berkshire Hathaway Inc. Class B Reduce -4.4% 1.98% −0.29
MOS The Mosaic Co. Reduce -10.0% 0.84% −0.27
TUA Sim St Treas Fut Strat ETF Reduce -74.9% 0.07% −0.26
CCJ Cameco Corp. Reduce -10.2% 1.75% −0.21
ALEX Alexander & Baldwin Inc. Reduce -22.6% 0.44% −0.19
PM Philip Morris International Reduce -7.0% 0.50% −0.18
DEO Diageo PLC-Sponsored ADR Reduce -18.9% 0.38% −0.18
SU Suncor Energy Inc. Reduce -25.9% 0.48% −0.18
ET Energy Transfer LP Reduce -1.8% 0.79% −0.17
MDT Medtronic PLC Reduce -37.8% 0.26% −0.17
NBIS Nebius Group NV Sold out 0.00% −0.16
XOM Exxon Mobil Corp. Reduce -3.3% 1.28% −0.15
CF CF Industries Holdings Inc. Reduce -0.1% 0.91% −0.15
NXST Nexstar Media Group Inc. Sold out 0.00% −0.15
CHX Championx Corp. Sold out 0.00% −0.15
CEG Constellation Energy Reduce -2.2% 0.89% −0.12
VFC VF Corp. Reduce -31.2% 0.34% −0.12
CRL Charles River Laboratories Reduce -6.1% 0.57% −0.10
EOG EOG Resources Inc. Reduce -21.3% 0.18% −0.09
SWK Stanley Black & Decker Inc. Reduce -10.6% 0.60% −0.09
FXY Invesco Currencyshares Japan Reduce -5.9% 0.37% −0.09
FAX Abrdn Asia-Pacific Income Reduce -78.9% 0.02% −0.09
LB Landbridge Co. LLC-A Sold out 0.00% −0.08
EPD Enterprise Products Partners Reduce -1.4% 0.51% −0.07
EDD Morgan Stanley Emrg MRK Dom Reduce -75.6% 0.02% −0.07
CLPT Clearpoint Neuro Inc. Sold out 0.00% −0.07
WMT Walmart Inc. Reduce -2.6% 0.65% −0.07
HLF Herbalife Ltd. Reduce -2.4% 0.36% −0.07
CNI Canadian Natl Railway Co. Reduce -3.8% 0.22% −0.06
GXO Gxo Logistics Inc. Reduce -2.5% 0.87% −0.06
GRVY Gravity Co. Ltd.-Sponsored ADR Reduce -5.9% 0.30% −0.06
CORZ Core Scientific Inc. Sold out 0.00% −0.06
FXE Invesco Currencyshares Euro Sold out 0.00% −0.06
SSNC Ss&c Technologies Holdings Reduce -10.4% 0.31% −0.06
GBTC Grayscale Bitcoin Trust ETF Reduce -4.0% 0.47% −0.05
XLE SS Energy Select Sector Reduce -5.2% 0.39% −0.05
CVX Chevron Corp. Reduce -6.5% 0.42% −0.05
FLYW Flywire Corp.-Voting Sold out 0.00% −0.05
ATEX Anterix Inc. Sold out 0.00% −0.05
FCX Freeport-McMoran Inc. Reduce -5.8% 0.14% −0.05
IEX Idex Corp. Sold out 0.00% −0.05
NVS Novartis AG-Sponsored ADR Reduce -2.8% 0.42% −0.04
LNG Cheniere Energy Inc. Reduce -4.1% 0.19% −0.04
ETN Eaton Corp. PLC Reduce -2.6% 0.38% −0.04
PFIX Simplify Interest Rate Hedge Reduce -5.7% 0.12% −0.04
CAAP Corp. America Airports SA Reduce -49.5% 0.03% −0.04
EXC Exelon Corp. Reduce -2.4% 0.31% −0.04

Portfolio Buys Q2 2025 → Q3 2025

TWO Two Harbors Investment Corp. New 0.54% +0.54
SLB SLB Ltd. Add +859.0% 0.60% +0.53
CAG Conagra Brands Inc. New 0.45% +0.45
NICE Nice Ltd. - Spon ADR New 0.45% +0.45
PPLT Abrdn Physical Platinum SHRS Add +90.4% 0.73% +0.35
ETHA iShares Ethereum Trust ETF Add +35.3% 0.58% +0.29
PSLV Sprott Physical Silver Trust Add +7.9% 1.51% +0.27
PPTA Perpetua Resources Corp. Add +44.0% 0.40% +0.21
VNM Vaneck Vietnam ETF New 0.20% +0.20
DVYE iShares Emerging Markets Div Add +803.5% 0.21% +0.18
NVDA Nvidia Corp. Add +48.6% 0.50% +0.18
AGI Alamos Gold Inc. Class A Add +1.4% 0.93% +0.14
EWT iShares MSCI Taiwan ETF Add +109.2% 0.25% +0.13
JAPN Horizon Kinetics Japan Owner Add +191.6% 0.21% +0.13
JOF Japan Smaller Capitalization Add +116.0% 0.21% +0.11
MIAX Miami International Holdings New 0.10% +0.10
EWS iShares MSCI Singapore ETF Add +267.2% 0.14% +0.10
ELD Wisdomtree Emrg MKTS Debt New 0.10% +0.10
GDXJ Vaneck Junior Gold Miners Add +6.3% 0.35% +0.10
LULU Lululemon Athletica Inc. Add +70.0% 0.84% +0.09
BABA Alibaba Group Holding-SP ADR New 0.08% +0.08
SIL Global X Silver Miners ETF Add +2.3% 0.32% +0.08
NGD New Gold Inc. Add +2.1% 0.35% +0.08
CDX Simplify High Yield ETF Add +51.8% 0.33% +0.08
SKE Skeena Resources Ltd. Add +27.4% 0.33% +0.08
NEM Newmont Corp. Add +6.0% 0.29% +0.08
GGAL Grupo Financiero Galicia-ADR New 0.08% +0.08
TEI Templeton Emrg MKTS Inc. Add +58.0% 0.25% +0.08
BORR Borr Drilling Ltd. New 0.07% +0.07
UNH Unitedhealth Group Inc. Add +68.2% 0.19% +0.07
IVV iShares Core S&P 500 ETF Add +192.0% 0.10% +0.06
ELV Elevance Health Inc. New 0.06% +0.06
OSISKO DEVELOPMENT CORP Add +76.8% 0.10% +0.06
TSEM Tower Semiconductor Ltd. New 0.05% +0.05
SILJ Amplify Junior Silver Miners Add +3.2% 0.18% +0.05
PBI Pitney Bowes Inc. New 0.05% +0.05
FXI iShares China Large-Cap ETF New 0.05% +0.05
PONY Pony AI Inc. New 0.05% +0.05
VRTX Vertex Pharmaceuticals Inc. New 0.04% +0.04
EWY iShares MSCI South Korea ETF Add +7.8% 0.73% +0.04
HOOD Robinhood Markets Inc. Class A Add +10.0% 0.13% +0.04
BIL SS SPDR BB 1-3M T-Bill ETF Add +59.2% 0.14% +0.04
NG Novagold Resources Inc. Add +171.4% 0.05% +0.04
AEC Anfield Energy Inc. New 0.04% +0.04
FEIM Frequency Electronics Inc. Add +21.9% 0.11% +0.04
BMNR Bitmine Immersion Technologi New 0.04% +0.04
ITRN Ituran Location and Control Add +29.1% 0.83% +0.04
HE Hawaiian Electric Inds New 0.04% +0.04
KWEB Kranesh Csi China Internet New 0.04% +0.04
NTAP Netapp Inc. New 0.04% +0.04

Options Activity Q2 2025 → Q3 2025

LLY Eli Lilly & Co. call Add +8.0% 2,700 $2.1M

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

Notes & Other Activity Q2 2025 → Q3 2025

BLOCK INC (XYZ 0.25 11/01/27) NOTE 0.250%11/0 · principal Reduce -3.2% 760,000 $691K
WELLS FARGO & COMPANY (WFC 7.5 PERP L) PERP PFD CNV A Reduce -4.6% 419 $517K
BANK OF AMERICA CORP (BAC 7.25 PERP L) 7.25%CNV PFD L Reduce -7.8% 178 $228K

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 509$1.1BPHYS, EWY, CCJ, MTBA, BRK.B
Q1 2026 475$955.9MCCJ, MTBA, XOM, BRK.B, EWZ
Q4 2025 452$1.1BPHYS, PSLV, CEF, BRK.B, GDX
Q3 2025 403$990.6MPHYS, BRK.B, GDX, CCJ, CEF
Q2 2025 355$873.7MPHYS, BRK.B, CCJ, CEF, MTBA
Q1 2025 355$821.1MPHYS, BRK.B, XOM, CCJ, AAPL
Q4 2024 355$784.6MPHYS, BRK.B, CCJ, AAPL, XOM
Q3 2024 334$780.2MPHYS, BRK.B, CCJ, XOM, AAPL
Q2 2024 319$725.3MPHYS, BRK.B, CCJ, XOM, AAPL
Q1 2024 319$728.6MPHYS, BRK.B, CCJ, WCC, XOM