Q4 2025 Holdings
Filed 2026-02-17 | 24 holdings | $112.4M | 13F-HR | View on SEC ↗ · Holdings Table ↗
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| Issuer | Class | CUSIP | Value ↓ | Shares | % Portfolio |
|---|---|---|---|---|---|
| ST JOE Co(JOE) | COM | 790148100 | $31.8M | 535,431 | 28.3% |
| Tejon Ranch Co(TRC) | COM | 879080109 | $21.2M | 1,346,056 | 18.9% |
| CF Inds Hldgs Inc(CF) | COM | 125269100 | $8.3M | 106,956 | 7.4% |
| Enterprise Prods Partners L(EPD) | COM | 293792107 | $7.1M | 222,604 | 6.3% |
| Natural Resource Partners L(NRP) | COM UNIT LTD PAR | 63900P608 | $6.7M | 64,209 | 6.0% |
| Vistra Corp(VST) | COM | 92840M102 | $6.3M | 39,138 | 5.6% |
| Mastercard Incorporated(MA) | CL A | 57636Q104 | $4.7M | 8,200 | 4.2% |
| Boston Omaha Corp(BOC) | CL A COM STK | 101044105 | $4.6M | 370,350 | 4.1% |
| BEL Fuse Inc(BELFB) | CL B | 077347300 | $4.3M | 25,400 | 3.8% |
| Berkshire Hathaway Inc del(BRK/B) | CL B NEW | 084670702 | $2.8M | 5,577 | 2.5% |
| Suncor Energy Inc New(SU) | COM | 867224107 | $2.3M | 52,193 | 2.1% |
| Texas Pacific Land Corporati(TPL) | COM | 88262P102 | $2.1M | 7,428 | 1.9% |
| Brunswick Corp(BC) | COM | 117043109 | $2.1M | 27,925 | 1.8% |
| Bank OZK Little Rock ARK(OZK) | COM | 06417N103 | $1.9M | 42,125 | 1.7% |
| Eagle Matls Inc(EXP) | COM | 26969P108 | $1.5M | 7,430 | 1.4% |
| BEL Fuse Inc(BELFA) | CL A | 077347201 | $1.1M | 7,000 | 0.9% |
| Berkshire Hathaway Inc del(BRK/A) | CL A | 084670108 | $754.8K | 1 | 0.7% |
| Williams COS Inc(WMB) | COM | 969457100 | $660.6K | 10,990 | 0.6% |
| Core Natural Resources Inc(CNR) | COM SHS | 218937100 | $575.3K | 6,500 | 0.5% |
| RCI Hospitality Hldgs Inc(RICK) | COM | 74934Q108 | $414.1K | 17,372 | 0.4% |
| Balchem Corp(BCPC) | COM | 057665200 | $368.1K | 2,400 | 0.3% |
| Central Secs Corp(CET) | COM | 155123102 | $316.5K | 6,241 | 0.3% |
| SRH Total Return Fund Inc(STEW) | COM | 101507101 | $262.4K | 14,151 | 0.2% |
| Marathon Pete Corp(MPC) | COM | 56585A102 | $222.8K | 1,370 | 0.2% |