| TTEXAS PACIFIC LAND CORPORATITPL |
| 46.58% | 48.69% | $124.9M | 285,330 | $135.3M | 285,120 | +210+0.07% | Add |
| PPERMIAN BASIN RTY TRPBT |
| 9.39% | 7.77% | $25.2M | 1.0M | $21.6M | 1.0M | +2,012+0.20% | Add |
 LANDBRIDGE CO LLC CL A CLASS ALB |
| 7.92% | 6.62% | $21.2M | 267,953 | $18.4M | 266,385 | +1,568+0.59% | Add |
| HHAWAIIAN ELEC INDS INC MTN BHE |
| 6.92% | 7.28% | $18.5M | 1.4M | $20.2M | 1.4M | +6,700+0.49% | Add |
 GRAYSCALE BITCOIN TRUST ETFGBTC |
| 6.11% | 6.84% | $16.4M | 360,139 | $19.0M | 360,139 | 00.00% | Unchanged |
| MMIAMI INTL HLDGS INCMIAX |
| 4.01% | 1.14% | $10.7M | 289,000 | $3.2M | 81,250 | +207,750+255.69% | Add |
| WWATERBRIDGE INFRASTRUCTURE LWBI |
| 3.42% | 2.61% | $9.2M | 267,801 | $7.3M | 270,900 | -3,099-1.14% | Reduce |
 MESABI TRMSB |
| 3.05% | 3.65% | $8.2M | 323,735 | $10.1M | 321,546 | +2,189+0.68% | Add |
 WHEATON PRECIOUS METALS CORPWPM |
| 2.35% | 4.21% | $6.3M | 56,173 | $11.7M | 89,271 | -33,098-37.08% | Reduce |
 FRANCO NEV CORPFNV |
| 1.75% | 2.1% | $4.7M | 22,506 | $5.8M | 23,590 | -1,084-4.60% | Reduce |
| FFIDELITY WISE ORIGIN BITCOIN FUNDFBTC |
| 1.34% | 1.49% | $3.6M | 70,369 | $4.2M | 70,339 | +30+0.04% | Add |
| CCARNIVAL CORP LTD COMMON SHARESCCL |
| 1.02% | 1.45% | $2.7M | 95,373 | $4.0M | 156,181 | -60,808-38.93% | Reduce |
| GGENERAL DYNAMICS CORPVTI |
| 0.94% | 1.02% | $2.5M | 6,800 | $2.8M | 8,800 | -2,000-22.73% | Reduce |
| GGRAYSCALE BITCOIN MINI TR ETF SHS NEWBTC |
| 0.79% | 0.88% | $2.1M | 81,517 | $2.4M | 81,217 | +300+0.37% | Add |
 PALO ALTOPANW |
| 0.7% | 0.32% | $1.9M | 5,484 | $879,195 | 5,484 | 00.00% | Unchanged |
 CBOE GLOBAL MKTS INCCBOE |
| 0.61% | 0.68% | $1.6M | 6,705 | $1.9M | 6,680 | +25+0.37% | Add |
 APPLE INCAAPL |
| 0.55% | 0.47% | $1.5M | 5,050 | $1.3M | 5,100 | -50-0.98% | Reduce |
 ORACLE CORPORCL |
| 0.44% | 0.43% | $1.2M | 8,050 | $1.2M | 8,050 | 00.00% | Unchanged |
 INTERCONTINENTAL EXCHANGE INC COMICE |
| 0.36% | 0.43% | $965,876 | 7,846 | $1.2M | 7,645 | +201+2.63% | Add |
 AMAZON COM INCAMZN |
| 0.3% | 0.26% | $810,356 | 3,400 | $728,945 | 3,500 | -100-2.86% | Reduce |
 UNITEDHEALTH GROUP INCUNH |
| 0.26% | 0.17% | $706,571 | 1,700 | $460,003 | 1,700 | 00.00% | Unchanged |
 CISCO SYS INCCSCO |
| 0.26% | 0.17% | $704,760 | 6,000 | $465,540 | 6,000 | 00.00% | Unchanged |
 CINCINNATI FINL CORP COMCINF |
| 0.25% | 0.2% | $666,504 | 3,600 | $566,460 | 3,600 | 00.00% | Unchanged |
 EATON CORP PLCETN |
| 0.19% | 0.15% | $511,344 | 1,200 | $429,204 | 1,200 | 00.00% | Unchanged |
| RRLI CORPRLI |
| 0.13% | 0.12% | $354,420 | 6,000 | $342,240 | 6,000 | 00.00% | Unchanged |
 BERKSHIRE HATHAWAY INC DELBRK.B |
| 0.12% | 0.14% | $312,744 | 625 | $395,340 | 825 | -200-24.24% | Reduce |
 JOHNSON & JOHNSONJNJ |
| 0.11% | 0.11% | $304,764 | 1,200 | $293,328 | 1,200 | 00.00% | Unchanged |
| CCACI INTL INCCACI |
| 0.08% | 0.16% | $210,784 | 455 | $437,816 | 805 | -350-43.48% | Reduce |
| FFERMI INCFRMI |
| 0.06% | — | $151,140 | 16,500 | $0 | 0 | +16,500 | New Buy |
