Financial Sense Advisors, Inc.

Key Holdings

The portfolio is characterized by a heavy concentration in its top assets, with the first three positions accounting for nearly 30% of the total value.

• Top Positions: The largest holding is FLOT (iShares Floating Rate Bond ETF) at $36.14M (10.49%), followed closely by IBIT (iShares Bitcoin Trust) at $34.52M (10.02%), and SPY (SPDR S&P 500 ETF) at $30.67M (8.90%).
• Significance: The prominence of FLOT suggests a strong emphasis on capital preservation and income generation within a rising rate environment, as floating rate notes are designed to mitigate interest rate risk. The significant allocation to IBIT indicates a strategic conviction on digital assets as an uncorrelated return source or inflation hedge. Meanwhile, the 3rd largest position, SPY, provides broad beta exposure to the U.S. equity market.
• Individual Equities: Among individual stocks, Tesla (TSLA) remains the largest equity holding at $26.05M (7.56%), despite a reduction in stake. NextEra Energy and Hewlett Packard Enterprise are also major concentrations, representing substantial bets on the utilities and technology infrastructure sectors, respectively.