OCM GOLD FUND
Schedule of Investments - August 31, 2021
(Unaudited)
| Shares | Value | ||||||||||
| Common Stocks | 96.9 | % | |||||||||
| Major Gold Producers | 24.2 | % | |||||||||
| 80,000 | Agnico Eagle Mines Ltd. | $ | 4,601,600 | ||||||||
| 155,000 | AngloGold Ashanti Ltd. ADR | 2,647,400 | |||||||||
| 200,000 | Barrick Gold Corp. | 4,014,000 | |||||||||
| 75,000 | Kinross Gold Corp. | 451,500 | |||||||||
| 35,000 | Kirkland Lake Gold Ltd. | 1,397,550 | |||||||||
| 65,000 | Newmont Corp. | 3,769,350 | |||||||||
| 50,000 | Northern Star Resources Ltd. | 356,986 | |||||||||
| 17,238,386 | |||||||||||
| Intermediate/Mid-Tier Gold Producers | 20.2 | % | |||||||||
| 325,000 | Alamos Gold, Inc. | 2,567,500 | |||||||||
| 300,000 | B2Gold Corp. | 1,160,339 | |||||||||
| 140,000 | Endeavour Mining Corp. | 3,420,940 | |||||||||
| 305,650 | Fortuna Silver Mines, Inc.* | 1,342,079 | |||||||||
| 700,000 | OceanaGold Corp.* | 1,309,344 | |||||||||
| 1,000,000 | Perseus Mining Ltd.* | 1,133,870 | |||||||||
| 154,840 | SSR Mining, Inc. | 2,584,280 | |||||||||
| 80,000 | Torex Gold Resources, Inc.* | 894,032 | |||||||||
| 14,412,384 | |||||||||||
| Junior Gold Producers | 24.9 | % | |||||||||
| 450,000 | Argonaut Gold, Inc.* | 1,123,484 | |||||||||
| 200,000 | Calibre Mining Corp.* | 264,722 | |||||||||
| 250,000 | Dundee Precious Metals, Inc. | 1,539,589 | |||||||||
| 1,375,000 | Emerald Resources N.L.* | 804,682 | |||||||||
| 250,000 | Galiano Gold, Inc.* | 217,700 | |||||||||
| 1,449,950 | Jaguar Mining, Inc. | 5,228,876 | |||||||||
| 175,000 | K92 Mining, Inc.* | 1,025,006 | |||||||||
| 1,000,000 | Minera Alamos, Inc.* | 499,326 | |||||||||
| 3,750,000 | Superior Gold, Inc.* | 1,723,865 | |||||||||
| 1,595,000 | Thor Explorations Ltd.* | 385,571 | |||||||||
| 500,000 | Wesdome Gold Mines Ltd.* | 4,917,968 | |||||||||
| 17,730,789 | |||||||||||
| Exploration and Development Companies | 10.4 | % | |||||||||
| 255,128 | Adriatic Metals PLC* | 518,841 | |||||||||
| 298,300 | Adventus Mining Corp.* | 208,056 | |||||||||
| 800,000 | Apollo Gold & Silver Corp.*,^ | 450,820 | |||||||||
| 500,000 | Ascot Resources Ltd.* | 467,623 | |||||||||
| 1,000,000 | Euro Sun Mining, Inc.* | 301,181 | |||||||||
| 200,000 | Galway Metals, Inc.* | 109,376 | |||||||||
| 1,000,000 | GR Silver Mining Ltd.* | 277,404 | |||||||||
| Shares | Value | ||||||||||
| 123,880 | Integra Resources Corp.* | $ | 346,593 | ||||||||
| 775,000 | Liberty Gold Corp.* | 706,388 | |||||||||
| 1,000,000 | Maritime Resources Corp.* | 118,887 | |||||||||
| 616,500 | Montage Gold Corp.* | 337,152 | |||||||||
| 400,000 | Orca Gold, Inc.* | 158,516 | |||||||||
| 500,000 | Orezone Gold Corp.* | 487,438 | |||||||||
| 400,000 | Paramount Gold Nevada Corp.* | 354,000 | |||||||||
| 100,000 | Prosper Gold Corp.* | 111,754 | |||||||||
| 975,000 | Rio2 Ltd.* | 533,209 | |||||||||
| 3,000,000 | Royal Road Minerals Ltd.* | 641,991 | |||||||||
| 4,578,755 | RTG Mining, Inc.* | 502,424 | |||||||||
| 200,000 | Sun Peak Metals Corp.* | 49,140 | |||||||||
| 2,512,040 | Sutter Gold Mining, Inc.*,# | — | |||||||||
| 1,210,500 | Tajiri Resources Corp.* | 86,348 | |||||||||
| 530,000 | West Vault Mining, Inc.* | 474,677 | |||||||||
| 450,000 | Westhaven Gold Corp.* | 185,464 | |||||||||
| 7,427,282 | |||||||||||
| Royalty/Streaming Companies | 8.3 | % | |||||||||
| 30,000 | Nomad Royalty Co., Ltd. | 213,284 | |||||||||
| 100,000 | Osisko Gold Royalties Ltd. | 1,222,000 | |||||||||
| 100,000 | Wheaton Precious Metals Corp. | 4,506,618 | |||||||||
| 5,941,902 | |||||||||||
| Primary Silver Producers | 8.9 | % | |||||||||
| 634,100 | Aya Gold & Silver, Inc.* | 5,045,862 | |||||||||
| 100,000 | Hecla Mining Co. | 615,000 | |||||||||
| 25,000 | Pan American Silver Corp. | 648,500 | |||||||||
| 6,309,362 | |||||||||||
| Total Common Stocks | |||||||||||
| (Cost $34,133,948) | 69,060,105 | ||||||||||
| Warrants | 2.7 | % | |||||||||
| Exploration and Development Companies | 0.1 | % | |||||||||
| 641,000 | Euro Sun Mining, Inc. Exercise Price: 0.55 CAD, Exp.: 6/5/2023 | — | |||||||||
| 225,000 | Westhaven Gold Corp. Exercise Price: 1.00 CAD, Exp.: 3/3/2023 | 37,449 | |||||||||
| 400,000 | Apollo Gold & Silver Corp. Exercise Price: 1.25 CAD, Exp.: 6/25/2023 | — | |||||||||
| 37,449 | |||||||||||
| Primary Silver Producers | 2.6 | % | |||||||||
| 350,000 | Aya Gold & Silver, Inc. Exercise Price: 3.30 CAD, Exp.: 9/3/2023 | 1,869,700 | |||||||||
| 1,869,700 | |||||||||||
| Total Warrants | |||||||||||
| (Cost $0) | 1,907,149 | ||||||||||
| Shares | Value | ||||||||||
| Short-Term Investment | 0.4 | % | |||||||||
| 256,853 | UMB Money Market Fiduciary, 0.01% | $ | 256,853 | ||||||||
| Total Short-Term Investment | |||||||||||
| (Cost $256,853) | 256,853 | ||||||||||
| Total Investments | 100.0 | % | |||||||||
| (Cost $34,390,801) | 71,224,107 | ||||||||||
| Assets less Other Liabilities | 0.0 | % | 22,988 | ||||||||
| TOTAL NET ASSETS | 100.0 | % | $ | 71,247,095 | |||||||
| ADR – American Depository Receipt |
| PLC – Public Limited Company |
| CAD – Canadian Dollars |
| * | Non-income producing security. |
| ^ | Security exempt from registration under Rule 144A promulgated under the Securities Act of 1933, as amended (the "Securities Act"), or otherwise restricted. These securities generally may be resold in transactions exempt from registration under the Securities Act, normally to certain qualified institutional buyers. The securities are valued at fair value in accordance with the procedures established by the Fund’s Board of Trustees. The total value of these securities is $450,820, which represents 0.63% of total net assets of the Fund. |
| # | Level 3 security fair valued under procedures established by the Board of Trustees, represents 0.00% of Net Assets. The total value of this security is $0. |