Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (36 quarters reported)
$111M in Q4 2017 → $167K now. Hover for any quarter.
As reported for the quarter ended September 30, 2026. Activity is the change in share count since the prior quarter's filing.
| Holding | % of portfolio | Activity | Shares | Value |
|---|---|---|---|---|
| MI Mastercard Incorporated - Common Stock | 33.7% | Unchanged | 102,170 | $56.3K |
| TP Texas Pacific Land Corp. - Common Stock | 31.6% | Unchanged | 161,973 | $52.8K |
| BF Bel Fuse Inc. - Class B Common Stock | 9.9% | Unchanged | 67,634 | $16.5K |
| G- Garmin Ltd. - Common Stock | 7.0% | Unchanged | 40,755 | $11.7K |
| B- Balchem Corp. - Common Stock | 5.0% | Unchanged | 51,100 | $8.43K |
| BF Broadridge Financial Solutions, Inc. - Common Stock | 3.9% | Unchanged | 40,793 | $6.57K |
| BF Bel Fuse Inc. - Class A Common Stock | 2.8% | Unchanged | 23,434 | $4.63K |
| GB Grayscale Bitcoin Trust ETF | 2.5% | Unchanged | 64,932 | $4.19K |
| BH Berkshire Hathaway Inc. Common Stock | 1.8% | Unchanged | 4 | $2.99K |
| LC Landbridge Company - Common Stock | 0.9% | Unchanged | 18,000 | $1.46K |
| MB Metropolitan Bank Holding Corp. - Common Stock | 0.4% | Unchanged | 7,811 | $680 |
| GB Grayscale Bitcoin Minitrust ETF | 0.3% | Unchanged | 12,986 | $480 |
| BW Brookfield Wealth Solutions - Class A Stock | 0.2% | Unchanged | 6,904 | $251 |
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended September 30, 2026 · filed October 27, 2026
No position changes this quarter.
quarter ended June 30, 2026 · filed August 13, 2026
No position changes this quarter.
quarter ended March 31, 2026 · filed May 14, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| B- Balchem Corp. - Common Stock | Trimmed | −65,754 | −$11.1M | 4.8% |
quarter ended December 31, 2025 · filed February 13, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| TP Texas Pacific Land Corp. - Common Stock | Added | +107,982 | +$31M | 28.2% |
| LC Landbridge Company - Common Stock | Trimmed | −10,000 | −$490K | 0.5% |
| B- Balchem Corp. - Common Stock | Trimmed | −3,160 | −$485K | 10.9% |
| BW Brookfield Wealth Solutions - Class A Stock | Added | +2,301 | +$106K | 0.2% |
quarter ended September 30, 2025 · filed November 12, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| LC Landbridge Company - Common Stock | Added | +14,000 | +$747K | 0.9% |
quarter ended June 30, 2025 · filed August 13, 2025
No position changes this quarter.
quarter ended March 31, 2025 · filed May 13, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| B- Balchem Corp. - Common Stock | Trimmed | −78,590 | −$13M | 10.9% |
| BO Boston Omaha Corporation - Class A Common Stock | Exited | −130,155 | −$1.85M | — |
| FC Franco-nevada Corporation - Common Stock | Exited | −10,676 | −$1.26M | — |
| VI Virtus Investment Partners, Inc. - Common Stock | Exited | −5,680 | −$1.25M | — |
| LC Landbridge Company - Common Stock | New | +14,000 | +$1.01M | 0.6% |
| SP Simulations Plus, Inc. - Common Stock | Exited | −28,596 | −$798K | — |
| P- Psychemedics Corp. - Common Stock | Exited | −20,000 | −$45K | — |
quarter ended December 31, 2024 · filed January 30, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| GB Grayscale Bitcoin Trust ETF | New | +64,932 | +$4.81M | 2.6% |
| TR Tejon Ranch Co. - Common Stock | Exited | −175,701 | −$3.08M | — |
| PB Permian Basin Royalty Trust - Common Stock | Exited | −86,500 | −$1.03M | — |
| GB Grayscale Bitcoin Minitrust ETF | New | +12,986 | +$544K | 0.3% |
| VI Virtus Investment Partners, Inc. - Common Stock | Trimmed | −396 | −$87.4K | 0.7% |
| BO Boston Omaha Corporation - Class A Common Stock | Trimmed | −4,000 | −$56.7K | 1.0% |
| TP Texas Pacific Land Corp. - Common Stock | Added | +1 | +$1.11K | 32.2% |
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