| BRK.B Berkshire Hathaway Inc. Class B | 11.64% | 38,760 | $15.8M | No change |
| VEA Vanguard Ftse Developed ETF | 8.50% | 233,000 | $11.5M | No change |
| PM Philip Morris International | 7.94% | 106,167 | $10.8M | Add +7.2% |
| BTI British American Tob-SP ADR | 7.18% | 314,531 | $9.7M | Add +0.9% |
| BSM Black Stone Minerals LP | 6.35% | 548,698 | $8.6M | No change |
| SPY SS SPDR S&P 500 ETF Trust-US | 6.03% | 15,000 | $8.2M | No change |
| JEF Jefferies Financial Group Inc. | 3.95% | 107,481 | $5.3M | No change |
| CHKP Check Point Software Tech | 3.32% | 27,213 | $4.5M | No change |
| EPD Enterprise Products Partners | 2.98% | 139,372 | $4.0M | No change |
| BRK.A Berkshire Hathaway Inc. Class A | 2.71% | 6 | $3.7M | No change |
| BOXX Alpha Architect 1-3 MNTH Box | 2.57% | 32,255 | $3.5M | Add +79.0% |
| BLDR Builders Firstsource Inc. | 2.30% | 22,533 | $3.1M | No change |
| SFM Sprouts Farmers Market Inc. | 2.26% | 36,500 | $3.1M | No change |
| IBKR Interactive Brokers Gro Class A | 2.26% | 24,906 | $3.1M | Reduce -2.0% |
| CNQ Canadian Natural Resources | 2.15% | 81,867 | $2.9M | Add +5.0% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 2.13% | 48,150 | $2.9M | No change |
| SU Suncor Energy Inc. | 1.59% | 56,400 | $2.1M | No change |
| JPM JPMorgan Chase & Co. | 1.55% | 10,400 | $2.1M | No change |
| VIRT Virtu Financial Inc. Class A | 1.37% | 82,582 | $1.9M | No change |
| LMT Lockheed Martin Corp. | 1.35% | 3,900 | $1.8M | No change |
| DVA Davita Inc. | 1.34% | 13,091 | $1.8M | No change |
| GOOG Alphabet Inc. Class C | 1.15% | 8,487 | $1.6M | No change |
| MKL Markel Group Inc. | 1.12% | 961 | $1.5M | No change |
| NTB Bank of N.T. Butterfield&son | 1.09% | 42,092 | $1.5M | No change |
| SMHI Seacor Marine Holdings Inc. | 1.07% | 107,862 | $1.5M | No change |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 1.05% | 35,680 | $1.4M | No change |
| LILAK Liberty Latin Americ Class C | 0.98% | 137,754 | $1.3M | Reduce -3.5% |
| FRPH FRP Holdings Inc. filed as FRP HLDGS INC | 0.97% | 46,022 | $1.3M | No change |
| INSW International Seaways Inc. | 0.93% | 21,381 | $1.3M | Reduce -50.7% |
| CLMT Calumet Specialty Products | 0.90% | 76,037 | $1.2M | Reduce -1.9% |
| DHT DHT Holdings Inc. | 0.84% | 97,804 | $1.1M | Reduce -56.8% |
| STR Sitio Royalties Corp. Class A | 0.73% | 41,737 | $985K | No change |
| SLM SLM Corp. | 0.68% | 44,192 | $919K | Add +87.7% |
| PKE Park Aerospace Corp. | 0.66% | 64,882 | $888K | Reduce -1.6% |
| UAN CVR Partners LP | 0.62% | 11,051 | $836K | No change |
| TPB Turning Point Brands Inc. | 0.62% | 25,964 | $833K | Reduce -70.3% |
| TDW Tidewater Inc. | 0.54% | 7,653 | $729K | Reduce -32.0% |
| AFL Aflac Inc. | 0.49% | 7,500 | $670K | No change |
| CLB Core Laboratories Inc. | 0.48% | 31,860 | $646K | No change |
| NEN New England Realty Assoc-LP | 0.45% | 8,636 | $610K | No change |
| DEO Diageo PLC-Sponsored ADR | 0.37% | 3,989 | $503K | Add +58.3% |
| CBOE Cboe Global Markets Inc. | 0.37% | 2,946 | $501K | No change |
| GOLD Gold.com Inc. filed as A-MARK PRECIOUS METALS INC | 0.30% | 12,645 | $409K | New |
| RPRX Royalty Pharma PLC Class A | 0.30% | 15,164 | $400K | New |
| HCC Warrior Met Coal Inc. | 0.29% | 6,199 | $389K | New |
| WMB Williams Cos Inc. | 0.28% | 9,000 | $383K | No change |
| TRMD Torm PLC-A | 0.27% | 9,460 | $367K | Reduce -53.7% |
| MAA Mid-America Apartment Comm | 0.21% | 2,008 | $286K | New |
| EXPD Expeditors Intl Wash Inc. | 0.20% | 2,200 | $275K | No change |
| CE Celanese Corp. | 0.20% | 2,000 | $270K | No change |
| BUR Burford Capital Ltd. | 0.19% | 19,272 | $252K | New |
| BRAG Bragg Gaming Group Inc. | 0.09% | 20,000 | $115K | New |
| WOW Wideopenwest Inc. | 0.05% | 13,210 | $71K | New |
| AVAL Grupo Aval Acciones Y Valore | 0.05% | 31,113 | $68K | Add +10.6% |