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 (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
Adams Diversified Equity Fund, COM 006212104 3,365,953 131,124 SH SOLE 131,124 0 0
Agnico Eagle Mines Limited COM 008474108 32,855,179 179,272 SH SOLE 179,272 0 0
Alamos Gold Inc. - Class A COM 011532108 12,509,633 386,219 SH SOLE 386,219 0 0
Alphabet Inc. - Class C COM 02079K107 71,529,163 209,923 SH SOLE 209,923 0 0
Amazon.com, Inc. COM 023135106 72,502,650 291,000 SH SOLE 291,000 0 0
American Electric Power Compan COM 025537101 11,864,000 100,000 SH SOLE 100,000 0 0
Apple Inc. COM 037833100 86,819,979 260,705 SH SOLE 260,705 0 0
Apple Inc. COM 037833100 28,350,000 90,000 SH Put SOLE 90,000 0 0
Applied Materials, Inc. COM 038222105 12,811,092 25,052 SH SOLE 25,052 0 0
Arch Capital Group Ltd. COM G0450A105 48,969,272 530,200 SH SOLE 530,200 0 0
Arcos Dorados Holdings Inc. - COM G0457F107 6,150,273 860,178 SH SOLE 860,178 0 0
Arista Networks, Inc. COM 040413205 8,172,510 40,142 SH SOLE 40,142 0 0
ARS Pharmaceuticals Inc COM 82835W108 3,915,325 908,428 SH SOLE 908,428 0 0
ASML Holding N.V. COM N07059210 99,641,850 55,000 SH SOLE 55,000 0 0
AT&T Inc. COM 00206R102 26,221,192 1,074,639 SH SOLE 1,074,639 0 0
Berkshire Hathaway Inc. - Clas COM 084670108 82,170,550 110 SH SOLE 110 0 0
Boeing Company/The COM 097023105 15,656,852 84,154 SH SOLE 84,154 0 0
Broadcom Inc. COM 11135F101 48,464,220 138,000 SH SOLE 138,000 0 0
Cameco Corporation COM 13321L108 29,401,064 339,230 SH SOLE 339,230 0 0
Celestica Inc. COM 15101Q207 8,385,176 23,200 SH SOLE 23,200 0 0
Chevron Corporation COM 166764100 17,641,906 86,391 SH SOLE 86,391 0 0
Cleveland-Cliffs Inc. COM 185899101 1,107,529 100,593 SH SOLE 100,593 0 0
Costco Wholesale Corporation COM 22160K105 30,041,220 33,000 SH SOLE 33,000 0 0
Dominion Energy, Inc. COM 25746U109 8,775,400 145,000 SH SOLE 145,000 0 0
Energy Transfer LP COM 29273V100 16,321,420 825,565 SH SOLE 825,565 0 0
Everest Group, Ltd. COM G3223R108 44,882,680 122,909 SH SOLE 122,909 0 0
ExxonMobil Holdings Corp. COM 30233Q108 18,732,525 115,100 SH SOLE 115,100 0 0
Ferroglobe PLC COM G33856108 1,833,600 461,283 SH SOLE 461,283 0 0
First Carolina Financial Servi COM 31943F200 2,622,064 207,606 SH SOLE 207,606 0 0
GE Vernova Inc. COM 36828A101 67,484,790 71,000 SH SOLE 71,000 0 0
Gilead Sciences, Inc. COM 375558103 21,597,345 144,900 SH SOLE 144,900 0 0
IDEAYA Biosciences, Inc. COM 45166A102 11,842,581 308,240 SH SOLE 308,240 0 0
indie Semiconductor, Inc. - Cl COM 45569U101 2,761,513 944,107 SH SOLE 944,107 0 0
Intel Corporation COM 458140100 3,110,951 25,875 SH SOLE 25,875 0 0
Invesco S&P Equal Weight COM 46137V357 6,367,700 30,611 SH SOLE 30,611 0 0
JPMorgan Chase & Co. COM 46625H100 26,466,400 80,000 SH SOLE 80,000 0 0
L3Harris Technologies, Inc. COM 502431109 21,540,824 90,974 SH SOLE 90,974 0 0
M&T Bank Corporation COM 55261F104 21,999,360 101,100 SH SOLE 101,100 0 0
Maravai LifeSciences Holdings, COM 56600D107 13,146,038 1,716,193 SH SOLE 1,716,193 0 0
Marvell Technology, Inc. COM 573874104 26,949,420 102,000 SH SOLE 102,000 0 0
Mastercard Incorporated - Clas COM 57636Q104 8,272,050 15,000 SH SOLE 15,000 0 0
Merck & Co., Inc. COM 58933Y105 29,690,611 204,326 SH SOLE 204,326 0 0
Merck & Co., Inc. COM 58933Y105 9,425,000 65,000 SH Put SOLE 65,000 0 0
Meta Platforms, Inc. - Class A COM 30303M102 23,205,760 32,000 SH SOLE 32,000 0 0
MetLife, Inc. COM 59156R108 8,505,190 90,327 SH SOLE 90,327 0 0
Microsoft Corporation COM 594918104 64,830,560 126,400 SH SOLE 126,400 0 0
Nelnet, Inc. - Class A COM 64031N108 28,431,234 230,998 SH SOLE 230,998 0 0
NextNav Inc. COM 65345N106 10,063,325 699,814 SH SOLE 699,814 0 0
NVIDIA Corporation COM 67066G104 53,892,884 235,979 SH SOLE 235,979 0 0
Onto Innovation Inc. COM 683344105 18,469,200 60,000 SH SOLE 60,000 0 0
Pan American Silver Corp COM 697900108 6,143,850 135,000 SH SOLE 135,000 0 0
PepsiCo, Inc. COM 713448108 16,473,600 130,000 SH SOLE 130,000 0 0
Pfizer Inc. COM 717081103 11,573,644 405,808 SH SOLE 405,808 0 0
Proshares S&P 500 Dividend Ari COM 74348A467 2,434,500 45,000 SH SOLE 45,000 0 0
Quest Diagnostics COM 74834L100 23,043,398 98,869 SH SOLE 98,869 0 0
Regeneron Pharmaceuticals, Inc COM 75886F107 27,572,214 36,362 SH SOLE 36,362 0 0
Republic Services, Inc. COM 760759100 70,437,619 335,625 SH SOLE 335,625 0 0
Revolution Medicines, Inc. COM 76155X100 12,837,987 62,545 SH SOLE 62,545 0 0
Royce Value Trust, Inc. COM 780910105 2,584,523 150,877 SH SOLE 150,877 0 0
RTX Corporation COM 75513E101 27,847,500 150,000 SH SOLE 150,000 0 0
ServiceNow, Inc. COM 81762P102 11,390,850 85,000 SH SOLE 85,000 0 0
ServiceNow, Inc. COM 81762P102 5,600,000 40,000 SH Put SOLE 40,000 0 0
Solventum Corporation COM 83444M101 17,516,198 198,709 SH SOLE 198,709 0 0
TJX Companies, Inc./The COM 872540109 64,137,537 484,752 SH SOLE 484,752 0 0
Tyler Technologies, Inc. COM 902252105 14,776,987 46,381 SH SOLE 46,381 0 0
Uber Technologies, Inc. COM 90353T100 17,852,541 260,583 SH SOLE 260,583 0 0
UnitedHealth Group Inc COM 91324P102 16,518,600 45,000 SH SOLE 45,000 0 0
Universal Display Corporation COM 91347P105 2,157,813 28,009 SH SOLE 28,009 0 0
Uranium Energy Corp. COM 916896103 4,298,711 454,890 SH SOLE 454,890 0 0
Valneva SE - ADR COM 92025Y103 2,191,723 354,361 SH SOLE 354,361 0 0
Vanguard Mid-Cap Value Index F COM 922908512 2,678,761 13,700 SH SOLE 13,700 0 0
Veeva Systems Inc. - Class A COM 922475108 13,703,313 48,006 SH SOLE 48,006 0 0
i-80 Gold Corp. COM 44955L106 5,580,533 3,361,767 SH SOLE 3,361,767 0 0