Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (3 quarters reported)
$112M in Q4 2025 → $148M 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 |
|---|---|---|---|---|
| Tejon Ranch Co | 22.7% | Added 7.0% | 1,798,905 | $33.6M |
| St Joe Co | 22.3% | Trimmed 0.2% | 526,496 | $33M |
| CI Cf Industries Hold | 10.6% | Added 3.1% | 125,225 | $15.8M |
| Bel Fuse Inc | 5.7% | Unchanged | 25,400 | $8.46M |
| EP Enterprise Prods Partners L | 5.5% | Added 0.4% | 223,604 | $8.22M |
| Vistra Corp | 5.0% | Added 6.9% | 46,593 | $7.39M |
| NR Natural Resource Partners LP | 4.3% | Added 1.6% | 65,213 | $6.33M |
| Boston Omaha Corp | 3.8% | Added 14% | 415,950 | $5.67M |
| EM Eagle Matls Inc | 3.0% | Added 5.9% | 19,985 | $4.5M |
| BH Berkshire Hathaway Inc Del | 3.0% | Added 11% | 8,977 | $4.49M |
| Mastercard Incorporated | 2.8% | Unchanged | 8,200 | $4.21M |
| BO Bank Ozk Little Rock Ark | 2.5% | Added 1.9% | 72,095 | $3.76M |
| TP Texas Pacific Land Corporati | 2.3% | Unchanged | 7,743 | $3.39M |
| Brunswick Corp | 1.4% | Added 5.0% | 25,399 | $2.14M |
| SE Suncor Energy Inc New | 1.4% | Trimmed 7.1% | 39,445 | $2.12M |
| Bel Fuse Inc | 1.4% | Unchanged | 7,000 | $2.04M |
| BH Berkshire Hathaway Inc Del | 0.5% | Unchanged | 1 | $749K |
| WC Williams Cos Inc | 0.4% | Trimmed 12% | 7,755 | $577K |
| Balchem Corp | 0.3% | Unchanged | 2,400 | $405K |
| CS Central Secs Corp | 0.2% | Unchanged | 6,241 | $327K |
| MP Marathon Pete Corp | 0.2% | Trimmed 22% | 1,070 | $274K |
| Rayonier Inc | 0.2% | New | 12,500 | $266K |
| Srh Total Return Fund Inc | 0.2% | Unchanged | 14,151 | $253K |
| CS Cisco Sys Inc | 0.1% | New | 1,742 | $205K |
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 2 quarters.
quarter ended June 30, 2026 · filed August 12, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Tejon Ranch Co | Added | +117,341 | +$2.19M | 22.7% |
| Boston Omaha Corp | Added | +51,600 | +$704K | 3.8% |
| CI Cf Industries Hold | Added | +3,795 | +$478K | 10.6% |
| Vistra Corp | Added | +3,000 | +$476K | 5.0% |
| BH Berkshire Hathaway Inc Del | Added | +900 | +$450K | 3.0% |
| Core Natural Resources Inc | Exited | −3,990 | −$418K | — |
| Rayonier Inc | New | +12,500 | +$266K | 0.2% |
| EM Eagle Matls Inc | Added | +1,120 | +$252K | 3.0% |
| RH Rci Hospitality Hldgs Inc | Exited | −10,305 | −$235K | — |
| CS Cisco Sys Inc | New | +1,742 | +$205K | 0.1% |
Showing the 10 largest of 18 changes.
quarter ended March 31, 2026 · filed May 14, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Tejon Ranch Co | Added | +335,508 | +$4.24M | 16.3% |
| EM Eagle Matls Inc | Added | +11,435 | +$2.17M | 2.8% |
| CI Cf Industries Hold | Added | +14,474 | +$1.88M | 12.1% |
| BO Bank Ozk Little Rock Ark | Added | +28,645 | +$1.31M | 2.5% |
| BH Berkshire Hathaway Inc Del | Added | +2,500 | +$1.2M | 3.0% |
| Vistra Corp | Added | +4,455 | +$670K | 5.0% |
| SE Suncor Energy Inc New | Trimmed | −9,723 | −$643K | 2.2% |
| St Joe Co | Trimmed | −7,831 | −$492K | 25.5% |
| Brunswick Corp | Trimmed | −3,726 | −$271K | 1.4% |
| Core Natural Resources Inc | Trimmed | −2,510 | −$263K | 0.3% |
Showing the 10 largest of 14 changes.
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