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
Expires: July 31, 2015
Estimated average burden
hours per response: 23.8
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 (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AGNICO EAGLE MINES LTD COM 008474108 24,583,517 121,113 SH SOLE N/A 121,113 0 0
AGNICO EAGLE MINES LTD COM 008474108 5,074,500 25,000 SH Call SOLE N/A 25,000 0 0
ALAMOS GOLD INC COM CL A 011532108 61,195,127 1,377,338 SH SOLE N/A 1,377,338 0 0
ALBEMARLE CORP COM 012653101 5,589,487 31,134 SH SOLE N/A 31,134 0 0
ALDABRA 4 LQDTY OPP VEH INC UNIT 12/23/2030 G01900201 249,000 25,000 SH SOLE N/A 25,000 0 0
AMER SPORTS INC COM SHS G0260P102 10,287,862 312,511 SH SOLE N/A 312,511 0 0
AMERICAN EXCEPTIONALISM ACQU ORD CL A G0273J101 867,071 80,062 SH SOLE N/A 80,062 0 0
AMERICAS GOLD AND SILVER COR COM NEW 03062D803 1,189,862 227,943 SH SOLE N/A 227,943 0 0
AMETEK INC COM 031100100 16,547,735 77,196 SH SOLE N/A 77,196 0 0
ANALOG DEVICES INC COM 032654105 1,065,769 3,350 SH SOLE N/A 3,350 0 0
APPLE INC COM 037833100 7,020,847 27,664 SH SOLE N/A 27,664 0 0
APPLIED MATLS INC COM 038222105 10,480,649 30,664 SH SOLE N/A 30,664 0 0
ASML HLDG NV N Y REGISTRY SHS N07059210 1,755,383 1,329 SH SOLE N/A 1,329 0 0
ATLAS LITHIUM CORP COM NEW 105861306 3,259,094 749,217 SH SOLE N/A 749,217 0 0
ATS CORPORATION COM 00217Y104 6,316,321 223,983 SH SOLE N/A 223,983 0 0
BOLD EAGLE ACQUISITION CORP CL A G2003N105 741,710 70,271 SH SOLE N/A 70,271 0 0
BOYD GROUP SERVICES INC COM 103310108 29,651,373 231,905 SH SOLE N/A 231,905 0 0
BROOKFIELD RENEWABLE ENERGY PARTNERSHIP UNIT G16258108 15,928,320 488,000 SH SOLE N/A 488,000 0 0
BRP INC COM SUN VTG 05577W200 13,736,535 191,290 SH SOLE N/A 191,290 0 0
BRUNSWICK CORP COM 117043109 7,121,531 97,877 SH SOLE N/A 97,877 0 0
CAE INC COM 124765108 23,164,546 889,234 SH SOLE N/A 889,234 0 0
CANADIAN NATL RY CO COM 136375102 27,672,570 269,267 SH SOLE N/A 269,267 0 0
CANADIAN PACIFIC KANSAS CITY COM 13646K108 6,906,899 87,807 SH SOLE N/A 87,807 0 0
CANADIAN PACIFIC KANSAS CITY COM 13646K108 7,866,000 100,000 SH Call SOLE N/A 100,000 0 0
CANTOR EQUITY PARTNERS II IN CL A ORD SHS G1827P106 2,681,554 246,240 SH SOLE N/A 246,240 0 0
CANTOR EQUITY PARTNERS IV IN SHS CL A G1828E100 730,837 71,721 SH SOLE N/A 71,721 0 0
CANTOR EQUITY PARTNERS VI IN CL A ORD SHS G1828R101 873,499 86,485 SH SOLE N/A 86,485 0 0
CATERPILLAR INC COM 149123101 1,365,911 1,928 SH SOLE N/A 1,928 0 0
CENOVUS ENERGY INC COM 15135U109 28,443,848 1,072,139 SH SOLE N/A 1,072,139 0 0
CENOVUS ENERGY INC COM 15135U109 1,591,800 60,000 SH Call SOLE N/A 60,000 0 0
CENTERRA GOLD INC COM 152006102 39,210,032 2,204,049 SH SOLE N/A 2,204,049 0 0
CENTERRA GOLD INC COM 152006102 889,500 50,000 SH Call SOLE N/A 50,000 0 0
CHENIERE ENERGY INC COM NEW 16411R208 19,669,959 69,319 SH SOLE N/A 69,319 0 0
CHIPOTLE MEXICAN GRILL INC COM 169656105 4,801,500 150,000 SH Call SOLE N/A 150,000 0 0
COMFORT SYS USA INC COM 199908104 14,795,184 10,729 SH SOLE N/A 10,729 0 0
CONOCOPHILLIPS COM 20825C104 9,900,000 75,000 SH SOLE N/A 75,000 0 0
CORNING INC COM 219350105 6,623,507 48,713 SH SOLE N/A 48,713 0 0
CRANE COMPANY COMMON STOCK 224408104 27,581,958 161,298 SH SOLE N/A 161,298 0 0
CURTISS WRIGHT CORP COM 231561101 9,065,707 13,310 SH SOLE N/A 13,310 0 0
DESCARTES SYS GROUP INC COM 249906108 85,119,332 1,189,482 SH SOLE N/A 1,189,482 0 0
DIGITAL ASSET ACQUISITION CO SHS CL A G2868C103 731,556 71,441 SH SOLE N/A 71,441 0 0
ELECTRONIC ARTS INC COM 285512109 18,348,300 90,000 SH Put SOLE N/A 90,000 0 0
EMCOR GROUP INC COM 29084Q100 3,856,931 5,224 SH SOLE N/A 5,224 0 0
ENTERGY CORP NEW COM 29364G103 9,068,351 80,708 SH SOLE N/A 80,708 0 0
EQT CORP COM 26884L109 8,273,200 130,000 SH SOLE N/A 130,000 0 0
ESCO TECHNOLOGIES INC COM 296315104 1,233,245 4,383 SH SOLE N/A 4,383 0 0
EVERCORE INC CLASS A 29977A105 4,949,594 16,581 SH SOLE N/A 16,581 0 0
FIRSTSERVICE CORP NEW COM 33767E202 4,539,309 32,671 SH SOLE N/A 32,671 0 0
FLOOR & DECOR HLDGS INC CL A 339750101 485,902 9,565 SH SOLE N/A 9,565 0 0
FRANCO NEV CORP COM 351858105 13,841,964 56,029 SH SOLE N/A 56,029 0 0
FRANCO NEV CORP COM 351858105 7,411,500 30,000 SH Call SOLE N/A 30,000 0 0
GE VERNOVA INC COM 36828A101 2,668,455 3,057 SH SOLE N/A 3,057 0 0
GENERAL DYNAMICS CORP COM 369550108 4,713,783 13,734 SH SOLE N/A 13,734 0 0
GILDAN ACTIVEWEAR INC COM 375916103 6,909,337 124,157 SH SOLE N/A 124,157 0 0
HCM III ACQUISITION CORP UNIT 07/23/2030 G4365E129 736,586 71,862 SH SOLE N/A 71,862 0 0
IAMGOLD CORP COM 450913108 36,509,596 1,939,936 SH SOLE N/A 1,939,936 0 0
IDEX CORP COM 45167R104 1,373,100 7,244 SH SOLE N/A 7,244 0 0
IDEXX LABS INC COM 45168D104 403,437 718 SH SOLE N/A 718 0 0
INVESCO QQQ TR UNIT SER 1 46090E103 172,057,358 298,100 SH Put SOLE N/A 298,100 0 0
ISHARES BITCOIN TRUST ETF SHS BEN INT 46438F101 11,526,000 300,000 SH Call SOLE N/A 300,000 0 0
ISHARES TR 20 YR TR BD ETF 464287432 348,155,709 4,016,100 SH Call SOLE N/A 4,016,100 0 0
ISHARES TR CHINA LG-CAP ETF 464287184 10,770,000 300,000 SH Call SOLE N/A 300,000 0 0
ISHARES TR EXPANDED TECH 464287515 8,005,000 100,000 SH Call SOLE N/A 100,000 0 0
ISHARES TR IBOXX HI YD ETF 464288513 249,022,800 3,130,000 SH Put SOLE N/A 3,130,000 0 0
ISHARES TR IBOXX INV CP ETF 464287242 117,709,200 1,080,000 SH Put SOLE N/A 1,080,000 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 81,840,000 330,000 SH Call SOLE N/A 330,000 0 0
ISHARES TR US AER DEF ETF 464288760 2,618,438 11,970 SH SOLE N/A 11,970 0 0
JPMORGAN CHASE & CO COM 46625H100 242,094 823 SH SOLE N/A 823 0 0
KINROSS GOLD CORP COM 496902404 39,734,110 1,301,904 SH SOLE N/A 1,301,904 0 0
KINROSS GOLD CORP COM 496902404 5,798,800 190,000 SH Call SOLE N/A 190,000 0 0
KKR & CO INC COM 48251W104 6,660,000 72,000 SH Call SOLE N/A 72,000 0 0
LEGENCE CORP CL A 52476L109 3,857,065 68,315 SH SOLE N/A 68,315 0 0
LIONSGATE STUDIOS CORP COM 53626N102 1,713,004 178,624 SH SOLE N/A 178,624 0 0
LULULEMON ATHLETICA INC COM 550021109 14,864,938 97,093 SH SOLE N/A 97,093 0 0
LULULEMON ATHLETICA INC COM 550021109 20,668,500 135,000 SH Call SOLE N/A 135,000 0 0
MARTIN MARIETTA MATLS INC COM 573284106 25,678,222 43,620 SH SOLE N/A 43,620 0 0
META PLATFORMS INC CL A 30303M102 3,248,554 5,678 SH SOLE N/A 5,678 0 0
MODINE MFG CO COM 607828100 10,710,242 49,422 SH SOLE N/A 49,422 0 0
NAVITAS SEMICONDUCTOR CORP COM 63942X106 194,571 22,186 SH SOLE N/A 22,186 0 0
NEXGEN ENERGY LTD COM 65340P106 19,629,787 1,692,223 SH SOLE N/A 1,692,223 0 0
NEXGEN ENERGY LTD COM 65340P106 580,000 50,000 SH Call SOLE N/A 50,000 0 0
NISOURCE INC COM 65473P105 17,563,944 376,424 SH SOLE N/A 376,424 0 0
NVENT ELEC PLC SHS G6700G107 25,771,793 217,888 SH SOLE N/A 217,888 0 0
NVIDIA CORPORATION COM 67066G104 7,848,000 45,000 SH Put SOLE N/A 45,000 0 0
OVINTIV INC COM 69047Q102 5,936,000 100,000 SH SOLE N/A 100,000 0 0
PERMIAN RESOURCES CORP CLASS A COM 71424F105 3,198,000 150,000 SH SOLE N/A 150,000 0 0
PROLOGIS INC. COM 74340W103 6,171,881 46,693 SH SOLE N/A 46,693 0 0
QUANTA SVCS INC COM 74762E102 10,073,968 18,349 SH SOLE N/A 18,349 0 0
REGAL REXNORD CORPORATION COM 758750103 10,326,265 55,144 SH SOLE N/A 55,144 0 0
ROPER TECHNOLOGIES INC COM 776696106 3,043,196 8,600 SH Call SOLE N/A 8,600 0 0
ROYAL BK CDA COM 780087102 13,451,036 83,144 SH SOLE N/A 83,144 0 0
SELECT SECTOR SPDR TR STATE STREET ENE 81369Y506 10,414,200 170,000 SH Put SOLE N/A 170,000 0 0
SENSIENT TECHNOLOGIES CORP COM 81725T100 13,029,274 150,732 SH SOLE N/A 150,732 0 0
SHARKNINJA INC COM SHS G8068L108 22,688,969 214,249 SH SOLE N/A 214,249 0 0
SHERWIN WILLIAMS CO COM 824348106 309,331 965 SH SOLE N/A 965 0 0
SIGMA LITHIUM CORPORATION COM 826599102 3,320,867 269,114 SH SOLE N/A 269,114 0 0
SKEENA RES LTD NEW COM 83056P715 33,508,706 1,127,480 SH SOLE N/A 1,127,480 0 0
SLB LIMITED COM STK 806857108 5,139,000 100,000 SH SOLE N/A 100,000 0 0
SPDR GOLD TR GOLD SHS 78463V107 43,029,000 100,000 SH Call SOLE N/A 100,000 0 0
SPDR GOLD TR GOLD SHS 78463V107 85,627,710 199,000 SH Put SOLE N/A 199,000 0 0
SPDR SERIES TRUST STATE STREET SPD 78464A698 1,171,983 17,989 SH SOLE N/A 17,989 0 0
SPOTIFY TECHNOLOGY S A SHS L8681T102 422,357 871 SH SOLE N/A 871 0 0
SPRING VY ACQUISITION CORP I SHS CL A G8377R101 1,696,822 167,010 SH SOLE N/A 167,010 0 0
SPROTT ASSET MANAGEMENT LP PHYSICAL SILVER 85207K107 677,481 27,777 SH SOLE N/A 27,777 0 0
SPROTT INC COM NEW 852066208 18,275,910 127,893 SH SOLE N/A 127,893 0 0
SPX TECHNOLOGIES INC COM 78473E103 31,116,862 155,631 SH SOLE N/A 155,631 0 0
STANTEC INC COM 85472N109 5,590,080 64,700 SH SOLE N/A 64,700 0 0
STATE STR SPDR S&P 500 ETF T TR UNIT 78462F103 3,251,700 5,000 SH Call SOLE N/A 5,000 0 0
STATE STR SPDR S&P 500 ETF T TR UNIT 78462F103 265,208,652 407,800 SH Put SOLE N/A 407,800 0 0
SUNCOR ENERGY INC NEW COM 867224107 33,256,569 503,049 SH SOLE N/A 503,049 0 0
TARGET CORP COM 87612E106 2,438,423 20,119 SH SOLE N/A 20,119 0 0
TELEDYNE TECHNOLOGIES INC COM 879360105 20,312,606 33,574 SH SOLE N/A 33,574 0 0
TERADYNE INC COM 880770102 3,065,396 10,340 SH SOLE N/A 10,340 0 0
TEXAS INSTRS INC COM 882508104 3,187,585 16,419 SH SOLE N/A 16,419 0 0
TEXAS VENTURES ACQUISITION I USD CL A ORD SHS G8772L105 1,577,244 151,804 SH SOLE N/A 151,804 0 0
THOMSON REUTERS CORP COM 884903808 2,699,400 30,000 SH Call SOLE N/A 30,000 0 0
TORONTO DOMINION BK ONT COM NEW 891160509 19,822,030 212,432 SH SOLE N/A 212,432 0 0
TRANSALTA CORP COM 89346D107 4,454,000 340,000 SH Call SOLE N/A 340,000 0 0
UNITED AIRLS HLDGS INC COM 910047109 4,143,150 45,000 SH Call SOLE N/A 45,000 0 0
UNITED STS BRENT OIL FD LP UNIT 91167Q100 4,125,537 79,322 SH SOLE N/A 79,322 0 0
VAIL RESORTS INC COM 91879Q109 7,277,027 56,710 SH SOLE N/A 56,710 0 0
VICOR CORP COM 925815102 2,762,116 17,156 SH SOLE N/A 17,156 0 0
VINE HILL CAP INVTS CORP II UNIT 11/25/2030 G9709D125 1,000,000 100,000 SH SOLE N/A 100,000 0 0
WELLTOWER INC COM 95040Q104 30,238,361 152,943 SH SOLE N/A 152,943 0 0
WESCO INTL INC COM 95082P105 449,284 1,642 SH SOLE N/A 1,642 0 0
WESTERN COPPER & GOLD CORP COM 95805V108 7,920,453 3,130,614 SH SOLE N/A 3,130,614 0 0
XPO INC COM 983793100 5,456,349 28,046 SH SOLE N/A 28,046 0 0