OCM GOLD FUND
Schedule of Investments - August 31, 2022
(Unaudited)
| Shares | Value | |||||||||
| Common Stocks | 90.2% | |||||||||
| Major Gold Producers | 29.4% | |||||||||
| 85,000 | Agnico Eagle Mines Ltd. | $ | 3,502,850 | |||||||
| 155,000 | AngloGold Ashanti Ltd. ADR | 2,089,400 | ||||||||
| 100,000 | B2Gold Corp. | 305,000 | ||||||||
| 300,000 | B2Gold Corp.^ | 920,511 | ||||||||
| 200,000 | Barrick Gold Corp. | 2,970,000 | ||||||||
| 140,000 | Endeavour Mining PLC | 2,724,532 | ||||||||
| 65,000 | Newmont Corp. | 2,688,400 | ||||||||
15,200,693 | ||||||||||
| Intermediate/Mid-Tier Gold Producers | 16.3% | |||||||||
| 325,000 | Alamos Gold, Inc. | 2,336,750 | ||||||||
| 130,000 | Lundin Gold, Inc. | 868,052 | ||||||||
| 700,000 | OceanaGold Corp.* | 1,033,958 | ||||||||
| 75,000 | Pan American Silver Corp. | 1,116,000 | ||||||||
| 1,000,000 | Perseus Mining Ltd. | 1,077,660 | ||||||||
| 150,000 | SSR Mining, Inc. | 2,023,500 | ||||||||
8,455,920 | ||||||||||
| Junior Gold Producers | 25.4% | |||||||||
| 200,000 | Argonaut Gold, Inc.* | 70,809 | ||||||||
| 400,489 | Calibre Mining Corp.* | 289,679 | ||||||||
| 250,000 | Dundee Precious Metals, Inc. | 1,138,267 | ||||||||
| 1,375,000 | Emerald Resources N.L.* | 1,100,753 | ||||||||
| 225,000 | Fortuna Silver Mines, Inc.* | 520,786 | ||||||||
| 150,000 | i-80 Gold Corp.* | 268,387 | ||||||||
| 1,449,950 | Jaguar Mining, Inc. | 3,212,543 | ||||||||
| 175,000 | K92 Mining, Inc.* | 902,048 | ||||||||
| 1,000,000 | Minera Alamos, Inc.* | 376,885 | ||||||||
| 450,000 | Mineros S.A. | 322,065 | ||||||||
| 500,000 | Orezone Gold Corp.* | 517,740 | ||||||||
| 4,100,000 | Superior Gold, Inc.* | 1,404,751 | ||||||||
| 1,595,000 | Thor Explorations Ltd.* | 248,953 | ||||||||
| 475,000 | Wesdome Gold Mines Ltd.* | 2,777,524 | ||||||||
13,151,190 | ||||||||||
| Exploration and Development Companies | 5.6% | |||||||||
| 651,500 | Apollo Silver Corp.* | 84,327 | ||||||||
| 500,000 | Banyan Gold Corp.* | 154,180 | ||||||||
| 400,000 | Benchmark Metals, Inc.* | 126,390 | ||||||||
| 450,000 | Black Cat Syndicate Ltd.* | 110,845 | ||||||||
| 250,000 | G Mining Ventures Corp.* | 148,470 | ||||||||
| 500,000 | Galway Metals, Inc.* | 135,146 | ||||||||
| Shares | Value | |||||||||
| 123,880 | Integra Resources Corp.* | $ | 70,740 | |||||||
| 500,000 | Lahontan Gold Corp.* | 39,021 | ||||||||
| 1,000,000 | Liberty Gold Corp.* | 335,008 | ||||||||
| 1,000,000 | Maritime Resources Corp.* | 34,262 | ||||||||
| 616,500 | Montage Gold Corp.* | 283,982 | ||||||||
| 257,945 | Paramount Gold Nevada Corp.* | 89,507 | ||||||||
| 975,000 | Rio2 Ltd.* | 92,794 | ||||||||
| 3,000,000 | Royal Road Minerals Ltd.* | 422,567 | ||||||||
| 4,578,755 | RTG Mining, Inc.* | 195,807 | ||||||||
| 148,500 | Silver Mountain Resources, Inc.* | 21,482 | ||||||||
| 2,512,040 | Sutter Gold Mining, Inc.*,# | — | ||||||||
| 1,210,500 | Tajiri Resources Corp.* | 36,866 | ||||||||
| 530,000 | West Vault Mining, Inc.* | 391,427 | ||||||||
| 450,000 | Westhaven Gold Corp.* | 133,623 | ||||||||
2,906,444 | ||||||||||
| Royalty/Streaming Companies | 5.9% | |||||||||
| 100,000 | Wheaton Precious Metals Corp. | 3,052,383 | ||||||||
| Primary Silver Producers | 7.6% | |||||||||
| 625,000 | Andean Precious Metals Corp.* | 414,002 | ||||||||
| 600,000 | Aya Gold & Silver, Inc.* | 3,503,883 | ||||||||
3,917,885 | ||||||||||
| Total Common Stocks | ||||||||||
| (Cost $31,444,498) | 46,684,515 | |||||||||
| Warrants | 2.3% | |||||||||
| Exploration and Development Companies | 0.0% | |||||||||
| 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* | 10,278 | |||||||||
| 400,000 | Apollo Silver Corp. | |||||||||
| Exercise Price 1.25 CAD, Exp. 6/25/2023* | — | |||||||||
10,278 | ||||||||||
| Primary Silver Producers | 2.3% | |||||||||
| 350,000 | Aya Gold & Silver, Inc. | |||||||||
| Exercise Price 3.30 CAD, Exp. 9/3/2023* | 1,164,535 | |||||||||
1,164,535 | ||||||||||
| Total Warrants | ||||||||||
| (Cost $0) | 1,174,813 | |||||||||
| Short-Term Investment | 7.5% | |||||||||
| 3,906,870 | UMB Money Market Fiduciary, 0.01% | 3,906,870 | ||||||||
| Value | ||||||||||||
| Total Short-Term Investment | ||||||||||||
| (Cost $3,906,870) | $ | 3,906,870 | ||||||||||
| Total Investments | 100.0 | % | ||||||||||
| (Cost $35,351,368) | 51,766,198 | |||||||||||
| Liabilities less Other Assets | (0.0 | )% | (14,144) | |||||||||
| TOTAL NET ASSETS | 100.0 | % | $ | 51,752,054 | ||||||||
| ADR – American Depository Receipt |
| CAD – Canadian Dollars |
| ^ | Denoted investment is a Canadian security traded on U.S. stock exchange. |
| * | Non-income producing security. |
| # | 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. |