Q1 2025 Holdings
Filed 2025-04-22 | 24 holdings | $236.0M | 13F-HR | View on SEC ↗ · Holdings Table ↗
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| Issuer | Class | CUSIP | Value ↓ | Shares | % Portfolio |
|---|---|---|---|---|---|
| Texas Pacific Land Corporati(TPL) | COM | 88262P102 | $126.1M | 95,183 | 53.4% |
| Grayscale Bitcoin Trust ETF(GBTC) | SHS REP COM UT | 389637109 | $24.3M | 372,481 | 10.3% |
| Landbridge Company LLC(LB) | CL A | 514952100 | $16.9M | 234,253 | 7.1% |
| Hawaiian Elec Industries(HE) | COM | 419870100 | $13.3M | 1,215,900 | 5.6% |
| Wheaton Precious Metals Corp(WPM) | COM | 962879102 | $11.5M | 147,793 | 4.9% |
| Mesabi TR(MSB) | CTF BEN INT | 590672101 | $8.1M | 296,457 | 3.4% |
| Fidelity Wise Origin Bitcoin(FBTC) | SHS | 315948109 | $5.4M | 75,053 | 2.3% |
| Permian Basin RTY TR(PBT) | UNIT BEN INT | 714236106 | $4.7M | 471,693 | 2.0% |
| Franco NEV Corp(FNV) | COM | 351858105 | $4.4M | 27,802 | 1.9% |
| Carnival Corp(CCL) | UNIT 99/99/9999 | 143658300 | $3.7M | 188,096 | 1.6% |
| Vanguard Index FDS(VTI) | TOTAL STK MKT | 922908769 | $3.3M | 12,122 | 1.4% |
| Grayscale Bitcoin Mini TR ET(BTC) | SHS NEW | 389930207 | $2.9M | 78,286 | 1.2% |
| Aris Water Solutions Inc(ARISUSD) | CLASS A COM | 04041L106 | $2.4M | 74,900 | 1.0% |
| Civeo Corp CDA(CVEO) | COM NEW | 17878Y207 | $1.8M | 79,497 | 0.8% |
| Cboe Global Mkts Inc(CBOE) | COM | 12503M108 | $1.4M | 6,215 | 0.6% |
| Intercontinental Exchange in(ICE) | COM | 45866F104 | $1.3M | 7,520 | 0.5% |
| Vanguard Specialized Funds(VIG) | DIV APP ETF | 921908844 | $1.2M | 6,200 | 0.5% |
| Berkshire Hathaway Inc del(BRK/B) | CL B NEW | 084670702 | $1.0M | 1,900 | 0.4% |
| RLI Corp(RLI) | COM | 749607107 | $723.0K | 9,000 | 0.3% |
| Sandstorm Gold LTD(AYS1) | COM NEW | 80013R206 | $485.9K | 64,364 | 0.2% |
| Eagle Matls Inc(EXP) | COM | 26969P108 | $467.3K | 2,106 | 0.2% |
| Caci Intl Inc(CACI) | CL A | 127190304 | $313.7K | 855 | 0.1% |
| Invesco Exchange Traded FD T(RSP) | S&P500 EQL WGT | 46137V357 | $261.2K | 1,508 | 0.1% |
| Disney Walt Co(DIS) | COM | 254687106 | $236.9K | 2,400 | 0.1% |