Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
BRK/B	BERKSHIRE HATHAWAY INC DEL	203,095	$55.43M	15.1%	$272.94 *	$115.89	+142.4%	CL B NEW	084670702
WTM	WHITE MTNS INS GROUP LTD	22,942	$24.54M	6.7%	$1069.61 *	$595.64	+87.5%	COM	G9618E107
JEF	JEFFERIES FINL GROUP INC	563,040	$20.91M	5.7%	$37.13 *	$16.22	+79.5%	COM	47233W109
MKL	MARKEL CORP	16,541	$19.77M	5.4%	$1195.15 *	$619.88	+98.9%	COM	570535104
—	ALLEGHANY CORP MD	31,455	$19.64M	5.4%	$624.42	$404.07	—	COM	017175100
—	ENSTAR GROUP LIMITED	81,768	$19.19M	5.2%	$234.73	$163.29	—	SHS	G3075P101
WRB	BERKLEY W R CORP	250,074	$18.3M	5.0%	$73.18 *	$14.35	+106.1%	COM	084423102
L	LOEWS CORP	282,603	$15.24M	4.2%	$53.93	$42.22	+26.7%	COM	540424108
FRFHF	FAIRFAX FINL HLDGS LTD SUB VTG	31,041	$12.52M	3.4%	$403.31	$394.37	+3.1%	Stock	303901102
MSFT	MICROSOFT CORP	24,143	$6.806M	1.9%	$281.90	$26.70	+951.3%	COM	594918104
AVUV	AMERICAN CENTY ETF TR	71,995	$5.444M	1.5%	$75.62	$72.03	—	US SML CP VALU	025072877
UHAL	AMERCO	6,588	$4.256M	1.2%	$646.02 *	$33.83	+85.3%	COM	023586100
AVDV	AMERICAN CENTY ETF TR	64,728	$4.182M	1.1%	$64.61	$61.73	—	INTL SMCP VLU	025072802
BK	BANK NEW YORK MELLON CORP	79,333	$4.113M	1.1%	$51.84 *	$24.83	+84.7%	COM	064058100
SCHW	SCHWAB CHARLES CORP	47,117	$3.432M	0.9%	$72.84 *	$49.84	+35.2%	COM	808513105
—	GENERAL AMERN INVS CO INC	78,028	$3.36M	0.9%	$43.06	$31.93	—	COM	368802104
JNJ	JOHNSON & JOHNSON	19,083	$3.082M	0.8%	$161.51 *	$60.59	+148.0%	COM	478160104
BRK/A	BERKSHIRE HATHAWAY INC DEL	7	$2.88M	0.8%	$411428.57 *	$283601.72	+49.0%	CL A	084670108
CACC	CREDIT ACCEP CORP MICH	4,903	$2.87M	0.8%	$585.36 *	$428.63	+27.1%	COM	225310101
CNQ	CANADIAN NAT RES LTD	69,217	$2.529M	0.7%	$36.54 *	$9.20	+46.2%	COM	136385101
—	CIMAREX ENERGY CO	28,949	$2.524M	0.7%	$87.19	$66.60	—	COM	171798101
MHK	MOHAWK INDS INC	14,070	$2.496M	0.7%	$177.40 *	$133.40	+45.2%	COM	608190104
VTIP	VANGUARD MALVERN FDS	44,521	$2.341M	0.6%	$52.58	$52.56	—	STRM INFPROIDX	922020805
DFAC	DIMENSIONAL ETF TRUST	87,259	$2.318M	0.6%	$26.56	$26.74	—	US CORE EQUITY 2	25434V708
LEN/B	LENNAR CORP	29,114	$2.259M	0.6%	$77.59 *	$34.48	+113.9%	CL B	526057302
AAPL	APPLE INC	15,392	$2.178M	0.6%	$141.50	$73.01	+97.1%	COM	037833100
NVR	NVR INC	448	$2.148M	0.6%	$4794.64 *	$3543.19	+43.3%	COM	62944T105
—	ISTAR INC	81,533	$2.045M	0.6%	$25.08	$10.65	—	COM	45031U101
BR	BROADRIDGE FINL SOLUTIONS IN	12,029	$2.005M	0.5%	$166.68 *	$21.85	+623.2%	COM	11133T103
OXY	OCCIDENTAL PETE CORP	67,637	$2.001M	0.5%	$29.58 *	$24.18	+4.1%	COM	674599105
LUMN	LUMEN TECHNOLOGIES INC	157,177	$1.947M	0.5%	$12.39 *	$10.84	+4.7%	COM	550241103
VIG	VANGUARD SPECIALIZED FUNDS	12,290	$1.888M	0.5%	$153.62	$94.38	—	DIV APP ETF	921908844
GHC	GRAHAM HLDGS CO	3,196	$1.883M	0.5%	$589.17	$376.87	+58.4%	COM CL B	384637104
RES	RPC INC	372,325	$1.809M	0.5%	$4.86 *	$11.20	-65.8%	COM	749660106
IVOL	KRANESHARES TR	64,276	$1.791M	0.5%	$27.86	$27.92	—	QUADRTC INT RT	500767736
—	BROOKFIELD ASSET MGMT INC	32,536	$1.741M	0.5%	$53.51	$37.75	—	CL A LTD VT SH	112585104
AR	ANTERO RESOURCES CORP	89,755	$1.688M	0.5%	$18.81 *	$12.45	+17.3%	COM	03674X106
EMR	EMERSON ELEC CO	17,155	$1.616M	0.4%	$94.20 *	$38.98	+134.0%	COM	291011104
VYM	VANGUARD WHITEHALL FDS	15,549	$1.607M	0.4%	$103.35	$102.24	—	HIGH DIV YLD	921946406
VIGI	VANGUARD WHITEHALL FDS	17,685	$1.543M	0.4%	$87.25	$77.29	—	INTL DVD ETF	921946810
VONV	VANGUARD SCOTTSDALE FDS	22,214	$1.526M	0.4%	$68.70	$94.94	—	VNG RUS1000VAL	92206C714
CTO	CTO RLTY GROWTH INC NEW	28,132	$1.512M	0.4%	$53.75	$52.00	—	COM	22948Q101
—	ROYCE VALUE TR INC	83,178	$1.499M	0.4%	$18.02	$15.28	—	COM	780910105
—	AMERICAN NATIONAL GROUP INC	7,672	$1.45M	0.4%	$189.00	$67.56	—	COM NEW	02772A109
FCX	FREEPORT-MCMORAN INC	44,213	$1.438M	0.4%	$32.52	$10.56	+213.3%	CL B	35671D857
CRT	CROSS TIMBERS RTY TR	102,104	$1.425M	0.4%	$13.96	$17.96	—	TR UNIT	22757R109
—	SOURCE CAP INC	31,862	$1.422M	0.4%	$44.63	$55.20	—	COM	836144105
—	ROYCE MICRO-CAP TR INC	124,141	$1.418M	0.4%	$11.42	$10.46	—	COM	780915104
TPL	TEXAS PACIFIC LAND CORPORATI	1,116	$1.35M	0.4%	$1209.68 *	$117.17	+25.4%	COM	88262P102
JOE	ST JOE CO	31,120	$1.31M	0.4%	$42.10 *	$17.07	+158.0%	COM	790148100
—	VIDLER WATER RESOUCES INC	114,783	$1.306M	0.4%	$11.38	$8.90	—	COM	92660E107
—	DISCOVERY INC	53,561	$1.3M	0.4%	$24.27	$21.90	—	COM SER C	25470F302
COP	CONOCOPHILLIPS	18,791	$1.273M	0.3%	$67.75 *	$34.28	+43.8%	COM	20825C104
SBR	SABINE RTY TR	29,362	$1.253M	0.3%	$42.67	$35.81	—	UNIT BEN INT	785688102
DFAI	DIMENSIONAL ETF TRUST	43,268	$1.251M	0.3%	$28.91	$29.02	—	INTL CORE EQT MK	25434V203
CUBI	CUSTOMERS BANCORP INC	28,600	$1.23M	0.3%	$43.01 *	$15.35	+153.6%	COM	23204G100
BSM	BLACK STONE MINERALS L P	101,891	$1.228M	0.3%	$12.05	$11.86	—	COM UNIT	09225M101
AXP	AMERICAN EXPRESS CO	7,209	$1.208M	0.3%	$167.57 *	$57.26	+176.4%	COM	025816109
ABT	ABBOTT LABS	9,906	$1.17M	0.3%	$118.11 *	$28.85	+293.4%	COM	002824100
SJT	SAN JUAN BASIN RTY TR	224,701	$1.139M	0.3%	$5.07	$9.88	—	UNIT BEN INT	798241105
CVX	CHEVRON CORP NEW	11,098	$1.126M	0.3%	$101.46 *	$71.55	+16.4%	COM	166764100
SLB	SCHLUMBERGER LTD	37,817	$1.121M	0.3%	$29.64 *	$22.75	+14.3%	COM STK	806857108
AMGN	AMGEN INC	5,241	$1.115M	0.3%	$212.75 *	$91.03	+120.0%	COM	031162100
CNA	CNA FINL CORP	25,187	$1.057M	0.3%	$41.97 *	$15.22	+108.2%	COM	126117100
DMLP	DORCHESTER MINERALS LP	54,976	$1.054M	0.3%	$19.17	$15.32	—	COM UNIT	25820R105
LBRDK	LIBERTY BROADBAND CORP	6,103	$1.054M	0.3%	$172.70 *	$48.64	+246.8%	COM SER C	530307305
CMBT	EURONAV NV	99,219	$968K	0.3%	$9.76 *	$4.85	+3.7%	SHS	B38564108
APD	AIR PRODS & CHEMS INC	3,744	$959K	0.3%	$256.14 *	$64.78	+281.3%	COM	009158106
—	CORE LABORATORIES N V	34,418	$955K	0.3%	$27.75	$23.76	—	COM	N22717107
IAU	ISHARES GOLD TR	26,602	$889K	0.2%	$33.42	$33.71	—	ISHARES NEW	464285204
PSLV	SPROTT PHYSICAL SILVER TR	109,934	$844K	0.2%	$7.68	$6.42	—	TR UNIT	85207K107
DD	DUPONT DE NEMOURS INC	12,256	$833K	0.2%	$67.97 *	$27.24	+4.1%	COM	26614N102
CRC	CALIFORNIA RES CORP	20,195	$828K	0.2%	$41.00 *	$17.02	+72.2%	COM STOCK	13057Q305
—	COVANTA HLDG CORP	40,250	$810K	0.2%	$20.12	$20.02	—	COM	22282E102
—	LIBERTY GLOBAL PLC	27,084	$798K	0.2%	$29.46	$33.90	—	SHS CL C	G5480U120
PYPL	PAYPAL HLDGS INC	3,032	$789K	0.2%	$260.22 *	$35.85	+689.5%	COM	70450Y103
EBAY	EBAY INC.	11,297	$787K	0.2%	$69.66 *	$42.53	+55.5%	COM	278642103
—	CONTANGO OIL & GAS CO	169,857	$776K	0.2%	$4.57	$3.09	—	COM NEW	21075N204
USB	US BANCORP DEL	12,808	$761K	0.2%	$59.42 *	$25.39	+83.8%	COM NEW	902973304
DNOW	NOW INC	96,708	$740K	0.2%	$7.65 *	$16.66	-50.9%	COM	67011P100
DOW	DOW INC	12,457	$717K	0.2%	$57.56 *	$36.37	+31.5%	COM	260557103
CVS	CVS HEALTH CORP	8,301	$704K	0.2%	$84.81 *	$52.38	+38.5%	COM	126650100
HP	HELMERICH & PAYNE INC	24,953	$684K	0.2%	$27.41	$64.35	-56.6%	COM	423452101
WFC	WELLS FARGO CO NEW	14,505	$673K	0.2%	$46.40 *	$30.19	+37.8%	COM	949746101
—	LIBERTY MEDIA CORP DEL	12,750	$655K	0.2%	$51.37	$37.15	—	COM SER C FRMLA	531229854
AVEM	AMERICAN CENTY ETF TR	10,030	$647K	0.2%	$64.51	$67.27	—	AVANTIS EMGMKT	025072604
CABO	CABLE ONE INC	350	$635K	0.2%	$1814.29	$366.69	+397.5%	COM	12685J105
AMR	ALPHA METALLURGICAL RESOUR I	12,213	$608K	0.2%	$49.78 *	$13.54	+151.8%	COM	020764106
WABC	WESTAMERICA BANCORPORATION	10,309	$580K	0.2%	$56.26 *	$29.77	+61.2%	COM	957090103
WY	WEYERHAEUSER CO MTN BE	16,261	$578K	0.2%	$35.55 *	$18.86	+53.5%	COM NEW	962166104
AMAT	APPLIED MATLS INC	4,350	$560K	0.2%	$128.74	$12.31	+961.3%	COM	038222105
—	SOUTHWESTERN ENERGY CO	101,152	$560K	0.2%	$5.54	$2.09	—	COM	845467109
—	ABERDEEN EMRG MRKTS EQT INM	65,833	$548K	0.1%	$8.32	$6.97	—	COM	00301W105
CLF	CLEVELAND-CLIFFS INC NEW	27,008	$535K	0.1%	$19.81 *	$15.06	+51.3%	COM	185899101
VAL	VALARIS LIMITED	15,307	$534K	0.1%	$34.89 *	$25.21	+13.9%	CL A	G9460G101
CTVA	CORTEVA INC	12,650	$532K	0.1%	$42.06	$26.67	+54.6%	COM	22052L104
TDW	TIDEWATER INC NEW	42,870	$517K	0.1%	$12.06 *	$25.88	-56.1%	COM	88642R109
NVS	NOVARTIS AG	6,245	$511K	0.1%	$81.83	$72.71	—	SPONSORED ADR	66987V109
BX	BLACKSTONE INC	4,380	$510K	0.1%	$116.44 *	$39.22	+155.8%	COM	09260D107
BXMT	BLACKSTONE MTG TR INC	16,587	$503K	0.1%	$30.32	$28.37	—	COM CL A	09257W100
VFC	V F CORP	7,500	$502K	0.1%	$66.93 *	$49.70	+54.4%	COM	918204108
IP	INTERNATIONAL PAPER CO	8,850	$495K	0.1%	$55.93 *	$22.81	+101.2%	COM	460146103
GNK	GENCO SHIPPING & TRADING LTD	23,978	$483K	0.1%	$20.14 *	$8.17	+126.6%	SHS	Y2685T131
CMCSA	COMCAST CORP NEW	8,511	$476K	0.1%	$55.93 *	$27.44	+87.3%	CL A	20030N101
VTV	VANGUARD INDEX FDS	3,518	$476K	0.1%	$135.30	$134.20	—	VALUE ETF	922908744
GLW	CORNING INC	12,995	$474K	0.1%	$36.48 *	$10.68	+230.4%	COM	219350105
SU	SUNCOR ENERGY INC NEW	22,332	$463K	0.1%	$20.73 *	$19.09	-12.2%	COM	867224107
ABEV	AMBEV SA	166,150	$459K	0.1%	$2.76	$3.44	—	SPONSORED ADR	02319V103
GBDC	GOLUB CAP BDC INC	28,066	$444K	0.1%	$15.82 *	$7.57	+31.5%	COM	38173M102
OFG	OFG BANCORP	17,200	$434K	0.1%	$25.23 *	$16.32	+40.9%	COM	67103X102
NTR	NUTRIEN LTD	6,594	$427K	0.1%	$64.76 *	$38.88	+37.5%	COM	67077M108
SO	SOUTHERN CO	6,890	$427K	0.1%	$61.97 *	$27.42	+99.5%	COM	842587107
FNF	FIDELITY NATIONAL FINANCIAL	9,313	$422K	0.1%	$45.31 *	$24.90	+43.9%	FNF GROUP COM	31620R303
ZTS	ZOETIS INC	2,170	$421K	0.1%	$194.01	$79.49	+143.7%	CL A	98978V103
T	AT&T INC	15,332	$414K	0.1%	$27.00 *	$13.28	+21.0%	COM	00206R102
GD	GENERAL DYNAMICS CORP	2,028	$398K	0.1%	$196.25 *	$56.44	+216.4%	COM	369550108
CSCO	CISCO SYS INC	7,259	$395K	0.1%	$54.42 *	$16.34	+201.2%	COM	17275R102
OEC	ORION ENGINEERED CARBONS S A	21,180	$386K	0.1%	$18.22	$21.20	-15.6%	COM	L72967109
INTC	INTEL CORP	7,225	$385K	0.1%	$53.29 *	$27.77	+79.4%	COM	458140100
COST	COSTCO WHSL CORP NEW	852	$383K	0.1%	$449.53 *	$148.67	+181.3%	COM	22160K105
CATY	CATHAY GEN BANCORP	9,185	$380K	0.1%	$41.37 *	$14.04	+140.7%	COM	149150104
—	GRINDROD SHIPPING HOLDINGS L	24,445	$377K	0.1%	$15.42	$4.26	—	SHS	Y28895103
VGSH	VANGUARD SCOTTSDALE FDS	6,127	$376K	0.1%	$61.37	$62.10	—	SHORT TERM TREAS	92206C102
VGK	VANGUARD INTL EQUITY INDEX F	5,737	$376K	0.1%	$65.54	$53.72	—	FTSE EUROPE ETF	922042874
KMB	KIMBERLY-CLARK CORP	2,677	$355K	0.1%	$132.61 *	$111.37	+3.7%	COM	494368103
WMB	WILLIAMS COS INC	13,625	$353K	0.1%	$25.91 *	$14.52	+40.5%	COM	969457100
LBRDA	LIBERTY BROADBAND CORP	2,048	$345K	0.1%	$168.46 *	$79.63	+105.5%	COM SER A	530307107
VT	VANGUARD INTL EQUITY INDEX F	3,383	$344K	0.1%	$101.68	$76.83	—	TT WRLD ST ETF	922042742
MET	METLIFE INC	5,562	$343K	0.1%	$61.67 *	$28.97	+82.0%	COM	59156R108
ENB	ENBRIDGE INC	8,133	$324K	0.1%	$39.84 *	$20.80	+42.7%	COM	29250N105
VEA	VANGUARD TAX-MANAGED INTL FD	6,365	$321K	0.1%	$50.43	$40.86	—	FTSE DEV MKT ETF	921943858
IDT	IDT CORP	7,480	$314K	0.1%	$41.98 *	$28.42	+64.2%	CL B NEW	448947507
DVN	DEVON ENERGY CORP NEW	8,650	$307K	0.1%	$35.49 *	$22.52	0.0%	COM	25179M103
LMT	LOCKHEED MARTIN CORP	887	$306K	0.1%	$344.98 *	$307.82	+4.2%	COM	539830109
OSG	AMBAC FINL GROUP INC	20,850	$299K	0.1%	$14.34	$18.92	-24.5%	COM NEW	023139884
MAC	MACERICH CO	17,632	$295K	0.1%	$16.73	$24.50	—	COM	554382101
IMO	IMPERIAL OIL LTD	9,180	$290K	0.1%	$31.59 *	$19.43	+27.2%	COM NEW	453038408
SRE	SEMPRA	2,296	$290K	0.1%	$126.31 *	$28.74	+99.2%	COM	816851109
DJCO	DAILY JOURNAL CORP	889	$285K	0.1%	$320.58 *	$220.08	+48.9%	COM	233912104
PNC	PNC FINL SVCS GROUP INC	1,446	$283K	0.1%	$195.71 *	$106.49	+51.0%	COM	693475105
VTWV	VANGUARD SCOTTSDALE FDS	1,999	$281K	0.1%	$140.57	$87.16	—	VNG RUS2000VAL	92206C649
VZ	VERIZON COMMUNICATIONS INC	5,202	$281K	0.1%	$54.02 *	$28.97	+46.1%	COM	92343V104
ETR	ENTERGY CORP NEW	2,772	$275K	0.1%	$99.21 *	$23.86	+91.0%	COM	29364G103
AGO	ASSURED GUARANTY LTD	5,765	$270K	0.1%	$46.83 *	$43.74	+2.3%	COM	G0585R106
GEOS	GEOSPACE TECHNOLOGIES CORP	28,070	$268K	0.1%	$9.55 *	$12.82	-28.0%	COM	37364X109
INSW	INTERNATIONAL SEAWAYS INC	14,715	$268K	0.1%	$18.21 *	$11.47	0.0%	COM	Y41053102
QCOM	QUALCOMM INC	2,000	$258K	0.1%	$129.00	$95.56	+34.8%	COM	747525103
BHF	BRIGHTHOUSE FINL INC	5,668	$256K	0.1%	$45.17	$33.58	+34.2%	COM	10922N103
—	CENTRAL SECS CORP	5,855	$247K	0.1%	$42.19	$28.88	—	COM	155123102
EQT	EQT CORP	11,914	$244K	0.1%	$20.48 *	$13.53	+34.3%	COM	26884L109
PTEN	PATTERSON-UTI ENERGY INC	25,980	$234K	0.1%	$9.01 *	$21.55	-62.4%	COM	703481101
BAC	BK OF AMERICA CORP	5,451	$231K	0.1%	$42.38 *	$30.64	+17.8%	COM	060505104
SLRC	SLR INVESTMENT CORP	11,663	$223K	0.1%	$19.12 *	$10.00	+20.5%	COM	83413U100
OVLY	OAK VY BANCORP OAKDALE CALIF	12,515	$222K	0.1%	$17.74	$8.75	+101.8%	COM	671807105
CEF	SPROTT PHYSICAL GOLD & SILVE	12,291	$211K	0.1%	$17.17	$17.21	—	TR UNIT	85208R101
TFSL	TFS FINL CORP	11,070	$211K	0.1%	$19.06 *	$13.24	+2.8%	COM	87240R107
CSW	CSW INDUSTRIALS INC	1,600	$204K	0.1%	$127.50 *	$122.08	0.0%	COM	126402106
—	LIBERTY MEDIA CORP DEL	7,657	$202K	0.1%	$26.38	$24.88	—	COM C BRAVES GRP	531229888
MRK	MERCK & CO INC	2,666	$200K	0.1%	$75.02 *	$32.58	+103.0%	COM	58933Y105
CARS	CARS COM INC	14,435	$183K	0.0%	$12.68	$26.86	-52.9%	COM	14575E105
UBFO	UNITED SEC BANCSHARES CALIF	19,862	$159K	0.0%	$8.01 *	$2.58	+139.5%	COM	911460103
—	SPROTT FOCUS TR INC	16,837	$140K	0.0%	$8.32	$7.84	—	COM	85208J109
—	ANNALY CAPITAL MANAGEMENT IN	13,000	$109K	0.0%	$8.38	$9.96	—	COM	035710409
—	TEEKAY CORPORATION	22,880	$84,000	0.0%	$3.67	$4.24	—	COM	Y8564W103
ARQ	ADVANCED EMISSIONS SOLUTIONS	13,150	$84,000	0.0%	$6.39 *	$5.70	+20.7%	COM	00770C101
FTI	TECHNIPFMC PLC	10,400	$78,000	0.0%	$7.50 *	$8.02	-12.0%	COM	G87110105
MTR	MESA RTY TR	11,371	$65,000	0.0%	$5.72	$4.10	—	UNIT BEN INT	590660106
TTI	TETRA TECHNOLOGIES INC DEL	16,000	$50,000	0.0%	$3.13 *	$0.78	+312.2%	COM	88162F105
—	YAMANA GOLD INC	10,600	$42,000	0.0%	$3.96	$3.96	—	COM	98462Y100
HNRG	HALLADOR ENERGY COMPANY	12,500	$37,000	0.0%	$2.96 *	$4.97	-47.6%	COM	40609P105
TPHS	TRINITY PL HLDGS INC	10,050	$20,000	0.0%	$1.99 *	$3.82	-43.2%	COM	89656D101
—	BORR DRILLING LTD	16,754	$14,000	0.0%	$0.84	$8.06	—	SHS	G1466R207