Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (53 quarters reported)
$197M in Q2 2013 → $697M now. Hover for any quarter.
As reported for the quarter ended June 30, 2026. Activity is the change in share count since the prior quarter's filing.
| Holding | % of portfolio | Activity | Shares | Value |
|---|---|---|---|---|
| BH Berkshire Hathaway Inc Del | 11.2% | Trimmed 1.3% | 156,557 | $78.3M |
| FF Fairfax Finl Hldgs Ltd Sub Vtg | 7.0% | Added 1.1% | 29,425 | $48.5M |
| WM White Mtns Ins Group Ltd | 6.6% | Added 0.2% | 22,218 | $46.1M |
| BW Berkley W R Corp | 6.4% | Added 0.8% | 635,753 | $44.8M |
| WT Wisdomtree Tr | 6.2% | Added 4.5% | 859,642 | $43.3M |
| Markel Group Inc | 5.5% | Added 2.5% | 19,610 | $38.3M |
| JF Jefferies Financial Group In | 4.4% | Added 0.5% | 617,122 | $30.8M |
| Loews Corp | 4.2% | Added 0.9% | 255,855 | $29M |
| AC American Centy ETF Tr | 3.0% | Trimmed 1.0% | 165,191 | $20.6M |
| Brookfield Corp | 2.9% | Added 3.0% | 466,698 | $19.9M |
| DE Dimensional ETF Trust | 2.1% | Added 1.6% | 274,258 | $14.8M |
| AC American Centy ETF Tr | 2.0% | Added 0.1% | 134,126 | $13.8M |
| CN Canadian Nat Res Ltd Med Ter | 1.3% | Added 1.0% | 236,287 | $9.33M |
| CE Cenovus Energy Inc | 1.3% | Added 1.0% | 366,951 | $9.1M |
| AC American Centy ETF Tr | 1.0% | Trimmed 3.0% | 74,352 | $7.17M |
| Johnson & Johnson | 1.0% | Trimmed 1.3% | 27,909 | $7.09M |
| U Haul Holding Company | 1.0% | Trimmed 0.8% | 116,181 | $6.7M |
| Microsoft Corp | 0.9% | Trimmed 1.5% | 17,616 | $6.57M |
| OP Occidental Pete Corp | 0.9% | Added 1.7% | 134,465 | $6.53M |
| SL Slb Limited | 0.8% | Added 1.6% | 124,804 | $5.8M |
| Antero Resources Corp | 0.8% | Added 4.5% | 162,114 | $5.7M |
| CA Credit Accep Corp Mich | 0.8% | Trimmed 37% | 8,376 | $5.33M |
| BH Berkshire Hathaway Inc Del | 0.8% | Unchanged | 7 | $5.24M |
| RM Royce Micro-cap Tr Inc | 0.7% | Trimmed 1.3% | 346,327 | $5.07M |
| KF Korea Fd Inc | 0.7% | Trimmed 0.8% | 67,225 | $5.06M |
| DE Devon Energy Corp New | 0.7% | Added 180% | 119,582 | $4.94M |
| AM Alpha Metallurgical Resour I | 0.6% | Trimmed 0.0% | 26,459 | $4.36M |
| Apple Inc | 0.6% | Trimmed 1.8% | 14,285 | $4.13M |
| GH Graham Hldgs Co | 0.5% | Trimmed 2.5% | 3,357 | $3.83M |
| VE Vaneck ETF Trust | 0.5% | Added 2.8% | 10,049 | $3.74M |
| Halliburton Co | 0.5% | Added 2.4% | 108,233 | $3.67M |
| Nvr Inc | 0.5% | Added 1.4% | 522 | $3.56M |
| TP Texas Pacific Land Corporati | 0.5% | Trimmed 4.6% | 8,040 | $3.52M |
| Freeport Mcmoran Inc | 0.5% | Trimmed 2.0% | 52,651 | $3.31M |
| TN Tidewater Inc New | 0.5% | Trimmed 0.1% | 49,433 | $3.29M |
| WH Willscot Hldgs Corp | 0.5% | Trimmed 1.4% | 109,389 | $3.16M |
| Lennar Corp | 0.4% | Added 2.7% | 35,284 | $3.13M |
| St Joe Co | 0.4% | Trimmed 0.1% | 49,827 | $3.12M |
| NM Navios Maritime Partners LP | 0.4% | Unchanged | 43,021 | $3.01M |
| IT Ishares Tr | 0.4% | Added 7.3% | 58,625 | $2.97M |
| SC Schwab Charles Corp | 0.4% | Unchanged | 30,923 | $2.85M |
| BO Bank Of Ny Mellon Corp | 0.4% | Trimmed 2.8% | 19,700 | $2.85M |
| Customers Bancorp Inc | 0.4% | Trimmed 1.8% | 35,967 | $2.84M |
| Amgen Inc | 0.4% | Trimmed 0.6% | 7,668 | $2.78M |
| DE Dimensional ETF Trust | 0.4% | Unchanged | 68,552 | $2.75M |
| Valaris Ltd | 0.4% | Trimmed 1.9% | 36,417 | $2.64M |
| CO Capital One Finl Corp | 0.4% | New | 12,909 | $2.59M |
| Vitesse Energy Inc | 0.4% | Added 4.9% | 162,206 | $2.56M |
| Lumen Technologies Inc | 0.4% | Trimmed 0.2% | 320,894 | $2.46M |
| Noble Corp PLC | 0.4% | Added 2.3% | 65,934 | $2.46M |
| Star Bulk Carriers Corp. | 0.4% | Unchanged | 97,991 | $2.45M |
| JS Japan Smaller Capitalization | 0.3% | Added 3.5% | 202,362 | $2.38M |
| Burford Capital Limited | 0.3% | Added 23% | 573,603 | $2.35M |
| Diversified Energy Co | 0.3% | Unchanged | 167,445 | $2.32M |
| DE Dimensional ETF Trust | 0.3% | Trimmed 2.0% | 56,415 | $2.23M |
| Ambev Sa | 0.3% | Trimmed 0.2% | 705,089 | $2.21M |
| FC First Ctzns Bancshares Inc D | 0.3% | Trimmed 4.5% | 1,013 | $2.11M |
| IE Invesco Exchange Traded Fd T | 0.3% | Added 6.1% | 60,488 | $2.05M |
| Crescent Energy Company | 0.3% | Added 3.1% | 208,065 | $2.04M |
| EE Emerson Elec Co | 0.3% | Trimmed 2.7% | 13,687 | $1.96M |
Showing top 60 of 199 positions.
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended June 30, 2026 · filed July 16, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Coterra Energy Inc | Exited | −103,839 | −$3.65M | — |
| DE Devon Energy Corp New | Added | +76,933 | +$3.18M | 0.7% |
| CA Credit Accep Corp Mich | Trimmed | −4,819 | −$3.07M | 0.8% |
| CO Capital One Finl Corp | New | +12,909 | +$2.59M | 0.4% |
| WT Wisdomtree Tr | Added | +37,174 | +$1.87M | 6.2% |
| BH Berkshire Hathaway Inc Del | Trimmed | −2,139 | −$1.07M | 11.2% |
| Markel Group Inc | Added | +473 | +$924K | 5.5% |
| Brookfield Corp | Added | +13,401 | +$571K | 2.9% |
| Dupont De Nemours Inc | Exited | −12,018 | −$550K | — |
| Dupont De Nemours Inc | New | +4,025 | +$546K | 0.1% |
Showing the 10 largest of 143 changes.
quarter ended March 31, 2026 · filed May 05, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| WT Wisdomtree Tr | Added | +103,733 | +$5.22M | 6.1% |
| Warner Bros Discovery Inc | Exited | −115,555 | −$3.33M | — |
| Brookfield Corp | Added | +51,755 | +$2.09M | 2.7% |
| JF Jefferies Financial Group In | Added | +35,560 | +$1.47M | 3.7% |
| BH Berkshire Hathaway Inc Del | Trimmed | −2,680 | −$1.28M | 11.2% |
| WM White Mtns Ins Group Ltd | Trimmed | −450 | −$989K | 7.2% |
| SA Sprott Asset Management LP | Trimmed | −32,951 | −$804K | 0.2% |
| IT Ishares Tr | New | +26,985 | +$618K | 0.1% |
| Burford Capital Limited | Added | +101,703 | +$460K | 0.3% |
| Wells Fargo & Co | Trimmed | −5,035 | −$401K | — |
Showing the 10 largest of 142 changes.
quarter ended December 31, 2025 · filed February 06, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| WT Wisdomtree Tr | Added | +494,348 | +$24.9M | 5.4% |
| JD Janus Detroit Str Tr | Trimmed | −378,189 | −$19.1M | — |
| Brookfield Corp | Added | +172,044 | +$7.9M | 2.7% |
| Warner Bros Discovery Inc | Trimmed | −121,751 | −$3.51M | 0.5% |
| IT Ishares Tr | New | +52,796 | +$2.66M | 0.4% |
| AM Alpha Metallurgical Resour | Added | +11,667 | +$2.33M | 0.8% |
| PE Pgim ETF Tr | Exited | −43,281 | −$2.23M | — |
| Diversified Energy Co | New | +149,815 | +$2.17M | 0.3% |
| DE Diversified Energy Company P | Exited | −150,410 | −$2.11M | — |
| CN Cleveland-cliffs Inc New | Exited | −151,430 | −$1.85M | — |
Showing the 10 largest of 127 changes.
quarter ended September 30, 2025 · filed November 06, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Enstar Group Limited | Exited | −52,364 | −$17.6M | — |
| WT Wisdomtree Tr | Added | +36,450 | +$1.83M | 1.8% |
| WM White Mtns Ins Group Ltd | Added | +1,030 | +$1.72M | 5.9% |
| FF Fairfax Finl Hldgs Ltd Sub Vtg | Trimmed | −727 | −$1.27M | 7.9% |
| DE Dimensional ETF Trust | Added | +26,826 | +$1.24M | 1.9% |
| JD Janus Detroit Str Tr | Added | +24,065 | +$1.22M | 3.0% |
| AC American Centy ETF Tr | Added | +14,066 | +$1.06M | 0.8% |
| Merck & Co Inc | Added | +11,078 | +$930K | 0.2% |
| PE Pgim ETF Tr | Added | +16,103 | +$829K | 0.3% |
| AC American Centy ETF Tr | Added | +9,130 | +$813K | 1.8% |
Showing the 10 largest of 132 changes.
quarter ended June 30, 2025 · filed July 23, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Enstar Group Limited | Trimmed | −17,613 | −$5.92M | 2.8% |
| WT Wisdomtree Tr | Added | +67,420 | +$3.39M | 1.5% |
| JD Janus Detroit Str Tr | Added | +58,557 | +$2.97M | 2.9% |
| CC Carlisle Cos Inc | New | +4,315 | +$1.61M | 0.3% |
| JF Jefferies Finl Group Inc | Added | +28,929 | +$1.58M | 5.0% |
| PE Pgim ETF Tr | Added | +19,853 | +$1.02M | 0.2% |
| WM White Mtns Ins Group Ltd | Added | +548 | +$984K | 6.2% |
| CE Cenovus Energy Inc | Added | +65,305 | +$888K | 0.7% |
| Apple Inc | Added | +4,169 | +$855K | 0.5% |
| Nvidia Corporation | New | +5,405 | +$854K | 0.1% |
Showing the 10 largest of 168 changes.
quarter ended March 31, 2025 · filed July 24, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| WT Wisdomtree Tr | New | +120,517 | +$6.06M | 1.0% |
| JD Janus Detroit Str Tr | Added | +70,873 | +$3.59M | 2.6% |
| Enstar Group Limited | Trimmed | −3,863 | −$1.28M | 4.0% |
| Brookfield Corp | Added | +24,757 | +$1.28M | 1.9% |
| CE Cenovus Energy Inc | Added | +80,785 | +$1.11M | 0.6% |
| BH Berkshire Hathaway Inc Del | Trimmed | −1,604 | −$844K | 14.9% |
| BW Berkley W R Corp | Trimmed | −6,921 | −$493K | 7.8% |
| Star Bulk Carriers Corp. | Added | +28,010 | +$448K | 0.3% |
| FF Fairfax Finl Hldgs Ltd Sub Vtg | Trimmed | −313 | −$445K | 7.3% |
| Exxon Mobil Corp | New | +3,548 | +$418K | 0.1% |
Showing the 10 largest of 138 changes.
quarter ended December 31, 2024 · filed July 24, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Enstar Group Limited | Trimmed | −28,474 | −$9.17M | 4.2% |
| JD Janus Detroit Str Tr | Added | +57,308 | +$2.91M | 2.1% |
| Cvs Health Corp | Exited | −20,643 | −$1.3M | — |
| DE Dimensional ETF Trust | Added | +32,020 | +$1.14M | 1.4% |
| BH Berkshire Hathaway Inc Del | Trimmed | −2,272 | −$1.03M | 13.4% |
| Johnson & Johnson | Added | +6,760 | +$978K | 0.6% |
| CE Cenovus Energy Inc | Added | +50,190 | +$760K | 0.5% |
| FF Fairfax Finl Hldgs Ltd Sub Vtg | Trimmed | −493 | −$686K | 7.5% |
| BW Berkley W R Corp | Trimmed | −10,690 | −$626K | 6.7% |
| JF Jefferies Finl Group Inc | Trimmed | −7,579 | −$594K | 7.5% |
Showing the 10 largest of 139 changes.
quarter ended September 30, 2024 · filed July 24, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| FF Fairfax Finl Hldgs Ltd Sub Vtg | New | +30,569 | +$38.6M | 7.0% |
| BW Berkley W R Corp | Added | +221,430 | +$12.6M | 6.7% |
| JD Janus Detroit Str Tr | Added | +53,170 | +$2.71M | 1.6% |
| Genco Shipping & Trading Ltd | Exited | −88,772 | −$1.89M | — |
| BH Berkshire Hathaway Inc Del | Trimmed | −3,948 | −$1.82M | 14.0% |
| Star Bulk Carriers Corp. | New | +75,095 | +$1.78M | 0.3% |
| CE Cenovus Energy Inc | Added | +80,607 | +$1.35M | 0.4% |
| Core Laboratories Inc | Exited | −62,205 | −$1.26M | — |
| Noble Corp PLC | Added | +20,670 | +$747K | 0.2% |
| DO Diamond Offshore Drilling In | Exited | −43,238 | −$670K | — |
Showing the 10 largest of 151 changes.
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