The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
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COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
CRH PLC ORD G25508105   28,023,013 302,886 SH   SOLE   302,886 0 0
FIRST CTZNS BANCSHARES INC N CL A 31946M103   4,826,138 2,284 SH   SOLE   2,284 0 0
FERGUSON ENTERPRISES INC COM 31488V107   10,344,772 59,600 SH   SOLE   59,600 0 0
FRANCO NEV CORP COM 351858105   11,434,687 97,242 SH   SOLE   97,242 0 0
FRONTLINE PLC COM M46528101   2,700,811 190,332 SH   SOLE   190,332 0 0
ICON PLC SHS G4705A100   5,054,011 24,100 SH   SOLE   24,100 0 0
NAVIOS MARITIME PARTNERS L P COM UNIT LPI Y62267409   7,946,875 183,573 SH   SOLE   183,573 0 0
ROYAL GOLD INC COM 780287108   4,398,252 33,358 SH   SOLE   33,358 0 0
SEABRIDGE GOLD INC COM 811916105   663,879 58,184 SH   SOLE   58,184 0 0
STAR BULK CARRIERS CORP SHS PAR Y8162K204   5,468,157 365,763 SH   SOLE   365,763 0 0
ISHARES SILVER TR ISHARES 46428Q109   1,152,648 43,777 SH   SOLE   43,777 0 0
NAVIOS MARITIME PARTNERS L P COM UNIT LPI Y62267409   13,419,900 310,000 SH Call SOLE   310,000 0 0
TESLA INC COM 88160R101   605,760 1,500 SH Put SOLE   1,500 0 0