Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
BRK/B	Berkshire Hathaway Inc.	1,161,530 (+268.8%)	$581M (+285.1%)	7.2%	$500.39	$428.14	—	CL B NEW	084670702
INTU	Intuit Inc.	491,278 (+6561.4%)	$128M (+3921.1%)	1.6%	$261.00	$264.55	—	COM	461202103
UHAL/B	U-Haul Holding Company	6,197,210 (+2.5%)	$358M (+32.3%)	4.4%	$57.70	$57.23	—	COM SER N	023586506
CTSH	Cognizant Technology Solutions Corporation	3,150,565 (+4.7%)	$122M (-33.9%)	1.5%	$38.73	$59.16	—	CL A	192446102
BRBR	BellRing Brands, Inc.	5,263,000 (+251.3%)	$68.1M (+182.6%)	0.8%	$12.94	$15.58	—	COM	07831C103
COP	ConocoPhillips	1,606,025 (+1.5%)	$167M (-20.0%)	2.1%	$103.96	$84.26	—	COM	20825C104
STT	State Street Corporation	919,740 (+1.2%)	$156M (+35.6%)	1.9%	$169.60	$51.11	—	COM	857477103
OLN	Olin Corporation	4,209,403 (+2.9%)	$83.43M (-31.4%)	1.0%	$19.82	$47.45	—	COM PAR $1	680665205
PEP	PepsiCo, Inc.	2,072,843 (+2.2%)	$281M (-10.9%)	3.5%	$135.40	$77.19	—	COM	713448108
ELV	Elevance Health, Inc.	339,985 (+1.7%)	$131M (+34.3%)	1.6%	$386.73	$123.15	—	COM	036752103
NOC	Northrop Grumman Corp.	197,521 (+1.7%)	$101M (-24.1%)	1.2%	$509.31	$283.17	—	COM	666807102
FOX	Fox Corporation	5,649,828 (+1.5%)	$265M (-10.5%)	3.3%	$46.84	$32.51	—	CL B COM	35137L204
UNH	UnitedHealth Group Incorporated	171,768 (+2.0%)	$71.39M (+56.6%)	0.9%	$415.63	$356.26	—	COM	91324P102
INGR	Ingredion Incorporated	1,471,409 (+2.2%)	$139M (-14.1%)	1.7%	$94.71	$80.38	—	COM	457187102
LHX	L3Harris Technologies Inc	413,504 (+1.4%)	$120M (-14.6%)	1.5%	$290.59	$172.22	—	COM	502431109
FANG	Diamondback Energy, Inc.	1,014,114 (+1.0%)	$178M (-10.2%)	2.2%	$175.78	$116.88	—	COM	25278X109
SYY	Sysco Corporation	1,293,545 (+4.8%)	$108M (+22.7%)	1.3%	$83.58	$40.91	—	COM	871829107
LMT	Lockheed Martin Corporation	216,359 (+1.3%)	$110M (-14.6%)	1.4%	$509.46	$302.60	—	COM	539830109
EMBC	Embecta Corporation	4,315,952 (+17.5%)	$14.07M (-56.7%)	0.2%	$3.26	$17.00	—	COMMON STOCK	29082K105
KVUE	Kenvue, Inc.	8,051,004 (+1.5%)	$154M (+12.5%)	1.9%	$19.11	$19.61	—	COM	49177J102
EOG	EOG Resources, Inc.	1,243,536 (+1.8%)	$161M (-8.7%)	2.0%	$129.73	$103.34	—	COM	26875P101
TSN	Tyson Foods, Inc.	2,578,970 (+2.5%)	$148M (-8.4%)	1.8%	$57.25	$55.17	—	CL A	902494103
KO	Coca-Cola Company	2,127,657 (+1.4%)	$173M (+8.3%)	2.1%	$81.27	$29.15	—	COM	191216100
SCHW	Charles Schwab Corp	4,101,552 (+5.0%)	$378M (+3.1%)	4.7%	$92.27	$56.95	—	COM	808513105
PG	Procter & Gamble Company	1,963,488 (+1.7%)	$288M (+3.2%)	3.6%	$146.64	$60.57	—	COM	742718109
MSFT	Microsoft Corporation	1,009,284 (+1.6%)	$376M (+2.4%)	4.7%	$373.02	$67.48	—	COM	594918104
MAS	Masco Corporation	286,085 (+16.9%)	$23.28M (+57.6%)	0.3%	$81.37	$59.79	—	COM	574599106
LEGH	Legacy Housing Corporation	754,009 (+6.8%)	$19.81M (+37.4%)	0.2%	$26.27	$21.37	—	COM	52472M101
FDS	FactSet Research Systems Inc.	229,620 (+1.7%)	$52.83M (+7.8%)	0.7%	$230.08	$246.83	—	COM	303075105
PYPL	PayPal Holdings, Inc.	2,317,304 (+1.2%)	$100M (-3.4%)	1.2%	$43.18	$50.00	—	COM	70450Y103
NWSA	News Corporation	7,554,958 (+2.3%)	$188M (+1.8%)	2.3%	$24.83	$13.00	—	CL A	65249B109
UL	Unilever PLC	241,192 (+20.5%)	$14.5M (+27.2%)	0.2%	$60.12	$64.35	—	ADR	904767803
DIS	Walt Disney Company	1,375,972 (+2.1%)	$132M (+2.0%)	1.6%	$96.25	$108.29	—	COM	254687106
BIL	State Street SPDR Bloomberg 1-3 Month T-Bill ETF	236,353 (+11.4%)	$21.66M (+11.4%)	0.3%	$91.64	$91.46	—	STATE STREET SPD	78468R663
DVN	Devon Energy Corporation	510,913 (+11.3%)	$21.11M (-8.6%)	0.3%	$41.32	$50.05	—	COM	25179M103
CRMT	America's Car-Mart, Inc.	205,000 (+5.1%)	$572K (-77.0%)	0.0%	$2.79	$38.67	—	COM	03062T105
AWI	Armstrong World Industries, Inc.	754,944 (+1.8%)	$121M (-1.0%)	1.5%	$160.42	$81.80	—	COM	04247X102
VRSK	Verisk Analytics, Inc.	21,190 (+43.4%)	$3.804M (+35.7%)	0.0%	$179.53	$240.06	—	COM	92345Y106
GS	Goldman Sachs Group, Inc.	5,200 (+2.1%)	$5.259M (+22.0%)	0.1%	$1011.37	$189.93	—	COM	38141G104
WFC	Wells Fargo & Company	104,803 (+4.3%)	$8.661M (+8.3%)	0.1%	$82.64	$34.45	—	COM	949746101
EAF	GrafTech International Ltd.	1,149,267 (+7.7%)	$6.792M (-6.1%)	0.1%	$5.91	$11.27	—	COM	384313607
TDY	Teledyne Technologies Incorporated	2,700 (+8.0%)	$1.801M (+19.0%)	0.0%	$666.90	$473.85	—	COM	879360105
CPRT	Copart, Inc.	136,675 (+24.0%)	$3.853M (+5.3%)	0.0%	$28.19	$41.84	—	COM	217204106

Exited Positions (3)

CSCO Cisco Systems, Inc. 0.2%

Value $16.34M Shares 210,580 Share Price $77.59 Est. Cost/Share $16.51 Unrealized @ Report Date —

MRSH Marsh & McLennan Companies, Inc. 0.0%

Value $3.361M Shares 19,380 Share Price $173.45 Est. Cost/Share $202.24 Unrealized @ Report Date —

GOLD Gold.com, Inc. 0.0%

Value $200K Shares 5,000 Share Price $40.08 Est. Cost/Share $23.65 Unrealized @ Report Date —

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
CSCO	Cisco Systems, Inc.	210,580	$16.34M	0.2%	$77.59	$16.51	—	—	17275R102
MRSH	Marsh & McLennan Companies, Inc.	19,380	$3.361M	0.0%	$173.45	$202.24	—	—	571748102
GOLD	Gold.com, Inc.	5,000	$200K	0.0%	$40.08	$23.65	—	—	00181T107

Decreased Positions (6)

BK Bank of New York Mellon Corp 0.1%

Value $9.313M (-78.1%) Shares 64,400 (-82.0%) Share Price $144.61 Est. Cost/Share $23.02 Unrealized @ Report Date —

EWY iShares Trust 1.4%

Value $113M (-6.7%) Shares 557,535 (-43.1%) Share Price $201.90 Est. Cost/Share $97.22 Unrealized @ Report Date —

EBAY eBay Inc. 1.7%

Value $141M (+1.4%) Shares 1,262,742 (-17.4%) Share Price $111.75 Est. Cost/Share $48.26 Unrealized @ Report Date —

AMPY Amplify Energy Corp. 0.0%

Value $816K (-37.7%) Shares 205,000 (-2.4%) Share Price $3.98 Est. Cost/Share $4.15 Unrealized @ Report Date —

SPY State Street SPDR S&P 500 ETF 0.0%

Value $2.657M (+8.4%) Shares 3,558 (-5.6%) Share Price $746.77 Est. Cost/Share $668.96 Unrealized @ Report Date —

PM Philip Morris International Inc. 0.0%

Value $905K (-7.3%) Shares 5,000 (-15.3%) Share Price $180.91 Est. Cost/Share $50.39 Unrealized @ Report Date —

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
BK	Bank of New York Mellon Corp	64,400 (-82.0%)	$9.313M (-78.1%)	0.1%	$144.61	$23.02	—	COM	064058100
EWY	iShares Trust	557,535 (-43.1%)	$113M (-6.7%)	1.4%	$201.90	$97.22	—	MSCI STH KOR ETF	464286772
EBAY	eBay Inc.	1,262,742 (-17.4%)	$141M (+1.4%)	1.7%	$111.75	$48.26	—	COM	278642103
AMPY	Amplify Energy Corp.	205,000 (-2.4%)	$816K (-37.7%)	0.0%	$3.98	$4.15	—	COM	03212B103
SPY	State Street SPDR S&P 500 ETF	3,558 (-5.6%)	$2.657M (+8.4%)	0.0%	$746.77	$668.96	—	TR UNIT	78462F103
PM	Philip Morris International Inc.	5,000 (-15.3%)	$905K (-7.3%)	0.0%	$180.91	$50.39	—	COM	718172109

Unchanged Positions (24)

CNQ Canadian Natural Resources Limited 8.0%

Value $650M Shares 16,462,508 Share Price $39.50 Est. Cost/Share $23.68 Unrealized @ Report Date —

GOOG Alphabet Inc. 4.9%

Value $399M Shares 1,129,129 Share Price $353.33 Est. Cost/Share $108.24 Unrealized @ Report Date —

RS Reliance, Inc. 3.2%

Value $261M Shares 698,566 Share Price $373.60 Est. Cost/Share $157.65 Unrealized @ Report Date —

TLN Talen Energy Corp 1.7%

Value $138M Shares 359,800 Share Price $384.26 Est. Cost/Share $138.87 Unrealized @ Report Date —

JNJ Johnson & Johnson 4.0%

Value $320M Shares 1,259,977 Share Price $253.97 Est. Cost/Share $62.97 Unrealized @ Report Date —

AVTR Avantor, Inc. 0.6%

Value $47.22M Shares 4,770,000 Share Price $9.90 Est. Cost/Share $11.00 Unrealized @ Report Date —

DAR Darling Ingredients Inc 1.0%

Value $77.4M Shares 1,417,062 Share Price $54.62 Est. Cost/Share $43.87 Unrealized @ Report Date —

FOXA Fox Corporation 0.8%

Value $61.81M Shares 1,185,089 Share Price $52.16 Est. Cost/Share $31.83 Unrealized @ Report Date —

UHAL U-Haul Holding Company 0.3%

Value $21.29M Shares 325,376 Share Price $65.44 Est. Cost/Share $51.54 Unrealized @ Report Date —

CL Colgate-Palmolive Company 0.9%

Value $72.51M Shares 790,900 Share Price $91.68 Est. Cost/Share $46.44 Unrealized @ Report Date —

CMCSA Comcast Corporation 0.4%

Value $28.74M Shares 1,170,500 Share Price $24.55 Est. Cost/Share $28.04 Unrealized @ Report Date —

FICO Fair Isaac Corporation 0.1%

Value $7.356M Shares 6,157 Share Price $1194.78 Est. Cost/Share $1490.80 Unrealized @ Report Date —

CLX Clorox Company 0.1%

Value $4.59M Shares 48,095 Share Price $95.44 Est. Cost/Share $110.74 Unrealized @ Report Date —

NTRS Northern Trust Corporation 0.0%

Value $1.651M Shares 9,500 Share Price $173.84 Est. Cost/Share $69.90 Unrealized @ Report Date —

MSCI MSCI Inc. 0.1%

Value $6.104M Shares 10,900 Share Price $560.04 Est. Cost/Share $508.24 Unrealized @ Report Date —

MCO Moody's Corporation 0.1%

Value $5.618M Shares 12,405 Share Price $452.92 Est. Cost/Share $354.77 Unrealized @ Report Date —

MA Mastercard Incorporated 0.1%

Value $5.994M Shares 11,670 Share Price $513.60 Est. Cost/Share $310.71 Unrealized @ Report Date —

VZ Verizon Communications Inc. 0.0%

Value $847K Shares 20,000 Share Price $42.34 Est. Cost/Share $28.99 Unrealized @ Report Date —

AON Aon Plc 0.1%

Value $4.284M Shares 12,915 Share Price $331.69 Est. Cost/Share $311.36 Unrealized @ Report Date —

CATO Cato Corporation 0.0%

Value $342K Shares 105,445 Share Price $3.24 Est. Cost/Share $10.09 Unrealized @ Report Date —

RDI Reading International Incorporated 0.0%

Value $339K Shares 265,000 Share Price $1.28 Est. Cost/Share $10.45 Unrealized @ Report Date —

V Visa Inc. 0.0%

Value $251K Shares 732 Share Price $343.09 Est. Cost/Share $267.71 Unrealized @ Report Date —

MO Altria Group, Inc. 0.0%

Value $302K Shares 4,200 Share Price $71.95 Est. Cost/Share $16.28 Unrealized @ Report Date —

NWS News Corporation 0.0%

Value $228K Shares 8,140 Share Price $28.06 Est. Cost/Share $12.44 Unrealized @ Report Date —

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
CNQ	Canadian Natural Resources Limited	16,462,508	$650M	8.0%	$39.50	$23.68	—	COM	136385101
GOOG	Alphabet Inc.	1,129,129	$399M	4.9%	$353.33	$108.24	—	CAP STK CL C	02079K107
RS	Reliance, Inc.	698,566	$261M	3.2%	$373.60	$157.65	—	COM	759509102
TLN	Talen Energy Corp	359,800	$138M	1.7%	$384.26	$138.87	—	COM	87422Q109
JNJ	Johnson & Johnson	1,259,977	$320M	4.0%	$253.97	$62.97	—	COM	478160104
AVTR	Avantor, Inc.	4,770,000	$47.22M	0.6%	$9.90	$11.00	—	COMMON STOCK	05352A100
DAR	Darling Ingredients Inc	1,417,062	$77.4M	1.0%	$54.62	$43.87	—	COM	237266101
FOXA	Fox Corporation	1,185,089	$61.81M	0.8%	$52.16	$31.83	—	CL A COM	35137L105
UHAL	U-Haul Holding Company	325,376	$21.29M	0.3%	$65.44	$51.54	—	COM	023586100
CL	Colgate-Palmolive Company	790,900	$72.51M	0.9%	$91.68	$46.44	—	COM	194162103
CMCSA	Comcast Corporation	1,170,500	$28.74M	0.4%	$24.55	$28.04	—	CL A	20030N101
FICO	Fair Isaac Corporation	6,157	$7.356M	0.1%	$1194.78	$1490.80	—	COM	303250104
CLX	Clorox Company	48,095	$4.59M	0.1%	$95.44	$110.74	—	COM	189054109
NTRS	Northern Trust Corporation	9,500	$1.651M	0.0%	$173.84	$69.90	—	COM	665859104
MSCI	MSCI Inc.	10,900	$6.104M	0.1%	$560.04	$508.24	—	COM	55354G100
MCO	Moody's Corporation	12,405	$5.618M	0.1%	$452.92	$354.77	—	COM	615369105
MA	Mastercard Incorporated	11,670	$5.994M	0.1%	$513.60	$310.71	—	CL A	57636Q104
VZ	Verizon Communications Inc.	20,000	$847K	0.0%	$42.34	$28.99	—	COM	92343V104
AON	Aon Plc	12,915	$4.284M	0.1%	$331.69	$311.36	—	SHS CL A	G0403H108
CATO	Cato Corporation	105,445	$342K	0.0%	$3.24	$10.09	—	CL A	149205106
RDI	Reading International Incorporated	265,000	$339K	0.0%	$1.28	$10.45	—	CL A	755408101
V	Visa Inc.	732	$251K	0.0%	$343.09	$267.71	—	COM CL A	92826C839
MO	Altria Group, Inc.	4,200	$302K	0.0%	$71.95	$16.28	—	COM	02209S103
NWS	News Corporation	8,140	$228K	0.0%	$28.06	$12.44	—	CL B	65249B208