T TEXAS PACIFIC LAND CORPORATI TPL
48.64% 51.51% $4.29B 9.8M $4.75B 10.0M -212,480 -2.12% Reduce GRAYSCALE BITCOIN TRUST ETF GBTC
6.27% 8.01% $552.6M 12.1M $738.9M 14.0M -1.9M -13.32% Reduce LANDBRIDGE CO LLC CL A CLASS A LB
5.23% 4.23% $461.3M 5.8M $390.6M 5.7M +164,129 +2.90% Add H HAWAIIAN ELEC INDS INC MTN B HE
3.44% 3.48% $303.0M 22.4M $321.1M 21.6M +760,103 +3.51% Add M MIAMI INTL HLDGS INC MIAX
3.3% 1.46% $291.4M 7.8M $134.3M 3.5M +4.4M +127.21% Add W WATERBRIDGE INFRASTRUCTURE L WBI
2.97% 2.13% $262.2M 7.7M $196.7M 7.3M +308,090 +4.20% Add WHEATON PRECIOUS METALS CORP WPM
2.15% 2.5% $189.5M 1.7M $230.8M 1.8M -74,616 -4.24% Reduce P PERMIAN BASIN RTY TR PBT
1.91% 1.49% $168.5M 6.7M $137.3M 6.4M +349,597 +5.48% Add FRANCO NEV CORP FNV
1.83% 2.03% $161.2M 773,418 $187.1M 757,297 +16,121 +2.13% Add G GRAYSCALE BITCOIN MINI TR ETF SHS NEW BTC
1.79% 0.98% $157.5M 6.1M $90.1M 3.0M +3.1M +101.97% Add INTERCONTINENTAL EXCHANGE INC COM ICE
1.37% 1.43% $121.2M 984,701 $131.9M 838,899 +145,802 +17.38% Add CBOE GLOBAL MKTS INC CBOE
1.14% 1.25% $100.6M 414,634 $115.3M 410,066 +4,568 +1.11% Add CHENIERE ENERGY INC LNG
1.09% 1.29% $96.1M 402,040 $119.3M 420,328 -18,288 -4.35% Reduce MESABI TR MSB
0.92% 1.07% $81.5M 3.2M $98.9M 3.1M +78,410 +2.50% Add CIVEO CORP CDA CVEO
0.91% 0.67% $80.2M 2.3M $62.2M 2.4M -61,362 -2.61% Reduce C CACI INTL INC CACI
0.81% 0.91% $71.2M 153,743 $84.1M 154,648 -905 -0.59% Reduce CAMECO CORP CCJ
0.81% 0.77% $71.1M 697,741 $70.8M 651,825 +45,916 +7.04% Add VIPER ENERGY INC VNOM
0.79% 0.85% $70.1M 1.7M $78.1M 1.7M -10,516 -0.63% Reduce BROOKFIELD CORP BN
0.77% 0.69% $67.6M 1.6M $63.6M 1.6M +15,403 +0.98% Add CME GROUP INC CME
0.71% 0.87% $62.7M 283,774 $79.8M 270,253 +13,521 +5.00% Add OR ROYALTIES INC. OR
0.69% 0.72% $60.6M 1.9M $66.7M 1.8M +161,655 +9.22% Add W WHITEHAWK MINERALS CORP WHK
0.49% — $43.2M 1.6M $0 0 +1.6M New Buy AUTONATION INC AN
0.45% 0.48% $39.6M 212,917 $43.9M 225,053 -12,136 -5.39% Reduce T TEJON RANCH CO COM TRC
0.43% 0.39% $37.6M 2.0M $35.8M 1.9M +109,083 +5.73% Add S ST JOE COMPANY JOE
0.42% 0.37% $37.1M 592,608 $34.1M 542,609 +49,999 +9.21% Add E EAGLEROCK LD LLC CL A SHS REP LTD EROK
0.41% — $35.8M 1.7M $0 0 +1.7M New Buy H HORIZON KINETICS HLDG CORP COM HKHC
0.4% 0.38% $35.5M 1.1M $35.5M 1.1M 0 0.00% Unchanged G GALAXY DIGITAL INC. GLXY
0.38% 0.25% $33.8M 1.2M $23.1M 1.3M -14,918 -1.19% Reduce BUNGE GLOBAL SA BG
0.34% 0.46% $30.3M 284,079 $42.9M 336,944 -52,865 -15.69% Reduce I ISHARES BITCOIN TRUST ETF IBIT
0.32% 0.33% $27.9M 837,308 $30.5M 793,343 +43,965 +5.54% Add SPROTT INC COM NEW SII
0.3% 0.32% $26.1M 232,217 $29.6M 206,997 +25,220 +12.18% Add WHITE MTNS INS GROUP LTD WTM
0.29% 0.31% $25.3M 12,206 $28.8M 13,112 -906 -6.91% Reduce P PENSKE AUTOMOTIVE GROUP PAG
0.28% 0.23% $24.9M 139,067 $21.3M 142,507 -3,440 -2.41% Reduce R RB GLOBAL INC RBA
0.28% 0.19% $24.6M 211,349 $17.9M 186,731 +24,618 +13.18% Add S SAN JUAN BASIN ROYALTY TR SJT
0.27% 0.36% $24.1M 7.5M $33.6M 7.0M +515,179 +7.38% Add M MARSH & MCLENNAN COS INC COM MRSH
0.26% 0.28% $23.3M 139,983 $26.3M 151,341 -11,358 -7.50% Reduce V VANGUARD BD INDEX FDS VUSB
0.26% 0.18% $23.0M 461,108 $16.9M 339,054 +122,054 +36.00% Add DORCHESTER MINERALS L P COM UNIT DMLP
0.24% 0.25% $21.5M 852,651 $23.3M 860,226 -7,575 -0.88% Reduce ROYALTY PHARMA PLC RPRX
0.22% 0.18% $19.3M 344,861 $16.3M 340,783 +4,078 +1.20% Add BERKSHIRE HATHAWAY INC DEL BRK.B
0.21% 0.2% $18.6M 37,231 $18.2M 38,033 -802 -2.11% Reduce LIVE NATION ENTERTAINMENT IN LYV
0.21% 0.26% $18.5M 100,989 $24.0M 157,169 -56,180 -35.74% Reduce TRIPLE FLAG PRECIOUS METAL TFPM
0.17% 0.16% $15.2M 506,677 $14.4M 413,430 +93,247 +22.55% Add INTERPARFUMS INC IPAR
0.17% 0.14% $14.6M 130,333 $12.6M 138,333 -8,000 -5.78% Reduce OSHKOSH CORP OSK
0.15% 0.18% $13.6M 88,816 $17.0M 115,789 -26,973 -23.29% Reduce ROYAL CARIBBEAN RCL
0.14% 0.15% $12.5M 39,414 $14.2M 51,698 -12,284 -23.76% Reduce C CARNIVAL CORP LTD COMMON SHARES CCL
0.14% 0.27% $12.2M 428,340 $24.8M 957,653 -529,313 -55.27% Reduce S STRATEGY INC MSTR
0.13% 0.19% $11.3M 129,774 $17.4M 139,253 -9,479 -6.81% Reduce TRADEWEB MKTS INC TW
0.11% 0.01% $9.7M 97,740 $621,598 5,283 +92,457 +1,750.09% Add WILLIAMS COS INC WMB
0.11% 0.11% $9.6M 128,678 $10.1M 138,301 -9,623 -6.96% Reduce MADISON SQUARE GARDEN SPCLASS A MSGS
0.11% 0.08% $9.3M 23,221 $7.5M 23,347 -126 -0.54% Reduce 
