Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
BRK/B	BERKSHIRE HATHAWAY INC DEL	192,963	$51.52M	13.8%	$115.89	+145.5%	CL B NEW	084670702
WTM	WHITE MTNS INS GROUP LTD	22,510	$29.33M	7.9%	$595.64	+117.2%	COM	G9618E107
WRB	BERKLEY W R CORP	368,653	$23.81M	6.4%	$21.68	+84.5%	COM	084423102
—	ALLEGHANY CORP MD	23,739	$19.93M	5.4%	$404.07	—	COM	017175100
MKL	MARKEL CORP	16,780	$18.19M	4.9%	$632.40	+92.9%	COM	570535104
JEF	JEFFERIES FINL GROUP INC	561,600	$16.57M	4.4%	$16.36	+66.1%	COM	47233W109
—	ENSTAR GROUP LIMITED	85,394	$14.48M	3.9%	$165.41	—	SHS	G3075P101
FRFHF	FAIRFAX FINL HLDGS LTD SUB VTG	31,603	$14.42M	3.9%	$508.38	-4.0%	Stock	303901102
L	LOEWS CORP	279,287	$13.92M	3.7%	$42.39	+30.9%	COM	540424108
VTIP	VANGUARD MALVERN FDS	236,350	$11.37M	3.1%	$51.25	—	STRM INFPROIDX	922020805
AVUV	AMERICAN CENTY ETF TR	130,568	$8.636M	2.3%	$71.98	—	US SML CP VALU	025072877
AVDV	AMERICAN CENTY ETF TR	111,597	$5.301M	1.4%	$60.01	—	INTL SMCP VLU	025072802
MSFT	MICROSOFT CORP	20,927	$4.874M	1.3%	$26.70	+862.0%	COM	594918104
OXY	OCCIDENTAL PETE CORP	77,081	$4.737M	1.3%	$25.60	+137.0%	COM	674599105
UHAL	AMERCO	7,328	$3.732M	1.0%	$35.98	+45.6%	COM	023586100
CNQ	CANADIAN NAT RES LTD	74,524	$3.471M	0.9%	$10.24	+117.2%	COM	136385101
SCHW	SCHWAB CHARLES CORP	47,117	$3.386M	0.9%	$49.84	+32.8%	COM	808513105
CACC	CREDIT ACCEP CORP MICH	7,019	$3.074M	0.8%	$463.61	+13.8%	COM	225310101
JNJ	JOHNSON & JOHNSON	18,738	$3.061M	0.8%	$60.59	+152.3%	COM	478160104
BK	BANK NEW YORK MELLON CORP	78,385	$3.019M	0.8%	$24.83	+55.8%	COM	064058100
CTRA	COTERRA ENERGY INC	115,339	$3.013M	0.8%	$16.87	+46.5%	COM	127097103
BRK/A	BERKSHIRE HATHAWAY INC DEL	7	$2.845M	0.8%	$283601.72	+51.0%	CL A	084670108
AR	ANTERO RESOURCES CORP	91,718	$2.8M	0.8%	$13.15	+180.8%	COM	03674X106
—	ROYCE MICRO-CAP TR INC	348,429	$2.763M	0.7%	$9.41	—	COM	780915104
RES	RPC INC	351,515	$2.436M	0.7%	$11.20	-40.6%	COM	749660106
SJT	SAN JUAN BASIN RTY TR	233,472	$2.195M	0.6%	$9.84	—	UNIT BEN INT	798241105
—	GENERAL AMERN INVS CO INC	64,118	$2.17M	0.6%	$31.93	—	COM	368802104
BSM	BLACK STONE MINERALS L P	133,721	$2.093M	0.6%	$11.67	—	COM UNIT	09225M101
SBR	SABINE RTY TR	29,162	$2.073M	0.6%	$35.81	—	UNIT BEN INT	785688102
GHC	GRAHAM HLDGS CO	3,818	$2.054M	0.6%	$408.22	+35.5%	COM CL B	384637104
AAPL	APPLE INC	14,753	$2.039M	0.5%	$73.01	+111.3%	COM	037833100
DFAI	DIMENSIONAL ETF TRUST	93,281	$2.012M	0.5%	$28.00	—	INTL CORE EQT MK	25434V203
CRT	CROSS TIMBERS RTY TR	102,539	$1.962M	0.5%	$17.96	—	TR UNIT	22757R109
SLB	SCHLUMBERGER LTD	52,945	$1.901M	0.5%	$27.07	+23.4%	COM STK	806857108
COP	CONOCOPHILLIPS	18,561	$1.9M	0.5%	$34.28	+157.3%	COM	20825C104
TPL	TEXAS PACIFIC LAND CORPORATI	1,065	$1.893M	0.5%	$117.17	+58.5%	COM	88262P102
VTV	VANGUARD INDEX FDS	15,147	$1.87M	0.5%	$135.47	—	VALUE ETF	922908744
LEN/B	LENNAR CORP	30,822	$1.834M	0.5%	$36.86	+55.7%	CL B	526057302
NVR	NVR INC	448	$1.786M	0.5%	$3543.19	+20.2%	COM	62944T105
ABEV	AMBEV SA	596,227	$1.687M	0.5%	$2.95	—	SPONSORED ADR	02319V103
BR	BROADRIDGE FINL SOLUTIONS IN	11,452	$1.653M	0.4%	$21.85	+600.7%	COM	11133T103
CMBT	EURONAV NV	106,952	$1.646M	0.4%	$4.97	+82.4%	SHS	B38564108
DFAC	DIMENSIONAL ETF TRUST	70,980	$1.579M	0.4%	$27.19	—	US CORE EQUITY 2	25434V708
LUMN	LUMEN TECHNOLOGIES INC	213,525	$1.554M	0.4%	$10.69	-6.3%	COM	550241103
CVX	CHEVRON CORP NEW	10,706	$1.538M	0.4%	$74.68	+77.8%	COM	166764100
CTO	CTO RLTY GROWTH INC NEW	80,879	$1.516M	0.4%	$29.85	—	COM	22948Q101
VYM	VANGUARD WHITEHALL FDS	15,700	$1.49M	0.4%	$102.11	—	HIGH DIV YLD	921946406
VIGI	VANGUARD WHITEHALL FDS	23,191	$1.438M	0.4%	$78.11	—	INTL DVD ETF	921946810
FCX	FREEPORT-MCMORAN INC	51,462	$1.406M	0.4%	$13.63	+104.6%	CL B	35671D857
DMLP	DORCHESTER MINERALS LP	54,876	$1.371M	0.4%	$15.32	—	COM UNIT	25820R105
IVOL	KRANESHARES TR	61,194	$1.356M	0.4%	$27.89	—	QUADRTC INT RT	500767736
VIG	VANGUARD SPECIALIZED FUNDS	9,857	$1.332M	0.4%	$98.86	—	DIV APP ETF	921908844
—	BROOKFIELD ASSET MGMT INC	30,526	$1.248M	0.3%	$37.75	—	CL A LTD VT SH	112585104
WBD	WARNER BROS DISCOVERY INC	106,258	$1.222M	0.3%	$17.30	-21.4%	COM SER A	934423104
EMR	EMERSON ELEC CO	16,601	$1.216M	0.3%	$38.98	+99.1%	COM	291011104
CRGY	CRESCENT ENERGY COMPANY	89,552	$1.206M	0.3%	$12.65	-0.9%	CL A COM	44952J104
AMGN	AMGEN INC	5,192	$1.17M	0.3%	$91.03	+139.3%	COM	031162100
CLF	CLEVELAND-CLIFFS INC NEW	86,567	$1.166M	0.3%	$18.63	-10.7%	COM	185899101
AMR	ALPHA METALLURGICAL RESOUR I	8,413	$1.151M	0.3%	$13.54	+878.3%	COM	020764106
AVEM	AMERICAN CENTY ETF TR	24,115	$1.108M	0.3%	$60.60	—	AVANTIS EMGMKT	025072604
CUBI	CUSTOMERS BANCORP INC	34,201	$1.008M	0.3%	$19.28	+83.5%	COM	23204G100
—	CORE LABORATORIES N V	74,021	$998K	0.3%	$22.09	—	COM	N22717107
VONV	VANGUARD SCOTTSDALE FDS	16,559	$988K	0.3%	$94.94	—	VNG RUS1000VAL	92206C714
ABT	ABBOTT LABS	9,970	$965K	0.3%	$29.95	+233.9%	COM	002824100
AXP	AMERICAN EXPRESS CO	7,109	$959K	0.3%	$57.26	+153.1%	COM	025816109
OIH	VANECK ETF TRUST	4,428	$935K	0.3%	$229.93	—	OIL SERVICES ETF	92189H607
DIHP	DIMENSIONAL ETF TRUST	48,534	$926K	0.2%	$20.64	—	INTL HIGH PROFIT	25434V765
JOE	ST JOE CO	28,618	$917K	0.2%	$17.07	+127.1%	COM	790148100
—	ROYCE VALUE TR INC	71,770	$901K	0.2%	$15.28	—	COM	780910105
CNA	CNA FINL CORP	23,784	$878K	0.2%	$15.22	+109.7%	COM	126117100
APD	AIR PRODS & CHEMS INC	3,765	$876K	0.2%	$64.78	+249.5%	COM	009158106
TDW	TIDEWATER INC NEW	40,370	$876K	0.2%	$25.88	-17.6%	COM	88642R109
CRC	CALIFORNIA RES CORP	22,228	$854K	0.2%	$18.88	+109.4%	COM STOCK	13057Q305
VAL	VALARIS LIMITED	17,140	$839K	0.2%	$26.73	+79.3%	CL A	G9460G101
IAU	ISHARES GOLD TR	25,863	$815K	0.2%	$33.71	—	ISHARES NEW	464285204
CVS	CVS HEALTH CORP	8,503	$811K	0.2%	$53.22	+64.7%	COM	126650100
—	SOURCE CAP INC	21,394	$749K	0.2%	$55.20	—	COM	836144105
CTVA	CORTEVA INC	12,644	$723K	0.2%	$26.67	+110.6%	COM	22052L104
—	LIBERTY MEDIA CORP DEL	12,233	$716K	0.2%	$37.15	—	COM SER C FRMLA	531229854
—	GRINDROD SHIPPING HOLDINGS L	27,433	$656K	0.2%	$6.28	—	SHS	Y28895103
NTR	NUTRIEN LTD	7,832	$653K	0.2%	$44.91	+71.5%	COM	67077M108
HP	HELMERICH & PAYNE INC	17,649	$652K	0.2%	$64.35	-34.6%	COM	423452101
GNK	GENCO SHIPPING & TRADING LTD	51,205	$642K	0.2%	$13.00	+22.1%	SHS	Y2685T131
SU	SUNCOR ENERGY INC NEW	22,389	$630K	0.2%	$19.16	+44.4%	COM	867224107
DD	DUPONT DE NEMOURS INC	12,179	$614K	0.2%	$27.24	-18.3%	COM	26614N102
—	SOUTHWESTERN ENERGY CO	99,152	$607K	0.2%	$2.09	—	COM	845467109
IEO	ISHARES TR	7,124	$593K	0.2%	$82.17	—	US OIL GS EX ETF	464288851
PSLV	SPROTT PHYSICAL SILVER TR	89,034	$589K	0.2%	$6.44	—	TR UNIT	85207K107
AGO	ASSURED GUARANTY LTD	11,652	$565K	0.2%	$47.90	+6.8%	COM	G0585R106
DVN	DEVON ENERGY CORP NEW	9,150	$550K	0.1%	$23.12	+129.0%	COM	25179M103
EBAY	EBAY INC.	14,811	$545K	0.1%	$42.97	-2.9%	COM	278642103
DOW	DOW INC	12,292	$540K	0.1%	$36.37	+14.0%	COM	260557103
USB	US BANCORP DEL	12,808	$516K	0.1%	$25.39	+54.5%	COM NEW	902973304
WFC	WELLS FARGO CO NEW	12,544	$505K	0.1%	$30.19	+30.4%	COM	949746101
VGSH	VANGUARD SCOTTSDALE FDS	8,696	$503K	0.1%	$61.57	—	SHORT TERM TREAS	92206C102
—	ISTAR INC	54,020	$500K	0.1%	$10.65	—	COM	45031U101
NVS	NOVARTIS AG	6,391	$486K	0.1%	$72.84	—	SPONSORED ADR	66987V109
EQT	EQT CORP	11,931	$486K	0.1%	$13.53	+204.5%	COM	26884L109
COST	COSTCO WHSL CORP NEW	1,017	$480K	0.1%	$204.07	+144.1%	COM	22160K105
SO	SOUTHERN CO	6,890	$469K	0.1%	$27.42	+144.2%	COM	842587107
WABC	WESTAMERICA BANCORPORATION	8,743	$457K	0.1%	$29.77	+68.4%	COM	957090103
WY	WEYERHAEUSER CO MTN BE	15,911	$454K	0.1%	$18.86	+59.7%	COM NEW	962166104
—	LIBERTY GLOBAL PLC	26,701	$441K	0.1%	$33.90	—	SHS CL C	G5480U120
LBRDK	LIBERTY BROADBAND CORP	5,809	$429K	0.1%	$48.64	+104.8%	COM SER C	530307305
GD	GENERAL DYNAMICS CORP	2,015	$428K	0.1%	$56.44	+273.6%	COM	369550108
OFG	OFG BANCORP	16,400	$412K	0.1%	$16.32	+66.3%	COM	67103X102
WMB	WILLIAMS COS INC	14,156	$405K	0.1%	$14.83	+88.1%	COM	969457100
IMO	IMPERIAL OIL LTD	9,180	$397K	0.1%	$19.43	+115.1%	COM NEW	453038408
OSG	AMBAC FINL GROUP INC	30,530	$389K	0.1%	$17.01	-21.7%	COM NEW	023139884
BXMT	BLACKSTONE MTG TR INC	16,587	$387K	0.1%	$28.37	—	COM CL A	09257W100
—	DIAMOND OFFSHORE DRILLING IN	57,412	$381K	0.1%	$6.07	—	COM	25271C201
INSW	INTERNATIONAL SEAWAYS INC	10,508	$369K	0.1%	$11.47	+66.2%	COM	Y41053102
CSWC	CAPITAL SOUTHWEST CORP	21,548	$365K	0.1%	$12.78	0.0%	COM	140501107
DFIV	DIMENSIONAL ETF TRUST	14,046	$362K	0.1%	$25.77	—	INTERNATNAL VAL	25434V807
LMT	LOCKHEED MARTIN CORP	934	$361K	0.1%	$311.49	+22.2%	COM	539830109
CATY	CATHAY GEN BANCORP	9,303	$358K	0.1%	$14.33	+159.5%	COM	149150104
SRE	SEMPRA	2,296	$344K	0.1%	$28.74	+152.2%	COM	816851109
FNF	FIDELITY NATIONAL FINANCIAL	9,485	$343K	0.1%	$25.01	+25.3%	FNF GROUP COM	31620R303
MET	METLIFE INC	5,562	$338K	0.1%	$28.97	+99.0%	COM	59156R108
BX	BLACKSTONE INC	3,963	$332K	0.1%	$39.22	+122.5%	COM	09260D107
AMAT	APPLIED MATLS INC	3,776	$309K	0.1%	$12.31	+659.7%	COM	038222105
CABO	CABLE ONE INC	360	$307K	0.1%	$388.66	+197.8%	COM	12685J105
CSCO	CISCO SYS INC	7,579	$303K	0.1%	$21.17	+89.2%	COM	17275R102
ENB	ENBRIDGE INC	8,093	$300K	0.1%	$20.80	+62.5%	COM	29250N105
ZTS	ZOETIS INC	1,998	$296K	0.1%	$80.56	+100.4%	CL A	98978V103
MAC	MACERICH CO	36,980	$294K	0.1%	$15.88	—	COM	554382101
PTEN	PATTERSON-UTI ENERGY INC	25,021	$292K	0.1%	$21.55	-33.7%	COM	703481101
IP	INTERNATIONAL PAPER CO	8,850	$281K	0.1%	$22.81	+53.6%	COM	460146103
PDS	PRECISION DRILLING CORP	5,511	$279K	0.1%	$60.50	0.0%	COM NEW	74022D407
ETR	ENTERGY CORP NEW	2,772	$279K	0.1%	$23.86	+112.3%	COM	29364G103
BHF	BRIGHTHOUSE FINL INC	6,168	$268K	0.1%	$34.77	+30.9%	COM	10922N103
SLRC	SLR INVESTMENT CORP	21,434	$264K	0.1%	$10.44	-1.7%	COM	83413U100
OXY/WS	OCCIDENTAL PETE CORP	6,585	$261K	0.1%	$35.19	—	*W EXP 08/03/202	674599162
OEC	ORION ENGINEERED CARBONS S A	19,580	$261K	0.1%	$21.20	-23.3%	COM	L72967109
AVES	AMERICAN CENTY ETF TR	6,791	$254K	0.1%	$41.49	—	EMERGING MKT VAL	025072372
CMCSA	COMCAST CORP NEW	8,511	$250K	0.1%	$27.44	+22.7%	CL A	20030N101
VGK	VANGUARD INTL EQUITY INDEX F	5,417	$250K	0.1%	$53.72	—	FTSE EUROPE ETF	922042874
MRK	MERCK & CO INC	2,666	$230K	0.1%	$32.58	+146.8%	COM	58933Y105
DJCO	DAILY JOURNAL CORP	889	$228K	0.1%	$220.08	+20.0%	COM	233912104
QCOM	QUALCOMM INC	2,000	$226K	0.1%	$95.56	+33.0%	COM	747525103
VEA	VANGUARD TAX-MANAGED FDS	6,097	$222K	0.1%	$40.86	—	VAN FTSE DEV MKT	921943858
VT	VANGUARD INTL EQUITY INDEX F	2,803	$221K	0.1%	$77.17	—	TT WRLD ST ETF	922042742
TRMD	TORM PLC	10,854	$220K	0.1%	$6.48	+55.0%	SHS CL A	G89479102
PNC	PNC FINL SVCS GROUP INC	1,446	$216K	0.1%	$106.49	+33.3%	COM	693475105
RRC	RANGE RES CORP	8,365	$211K	0.1%	$22.82	+32.6%	COM	75281A109
—	LIBERTY MEDIA CORP DEL	7,337	$202K	0.1%	$27.53	—	COM C BRAVES GRP	531229888
OVLY	OAK VY BANCORP OAKDALE CALIF	11,252	$201K	0.1%	$8.75	+106.8%	COM	671807105
VZ	VERIZON COMMUNICATIONS INC	5,301	$201K	0.1%	$30.64	+16.7%	COM	92343V104
CEF	SPROTT PHYSICAL GOLD & SILVE	12,291	$191K	0.1%	$17.21	—	TR UNIT	85208R101
TFSL	TFS FINL CORP	12,997	$169K	0.0%	$12.97	-18.5%	COM	87240R107
FTI	TECHNIPFMC PLC	17,403	$147K	0.0%	$7.68	+0.8%	COM	G87110105
GEOS	GEOSPACE TECHNOLOGIES CORP	33,406	$147K	0.0%	$10.62	-55.8%	COM	37364X109
MTR	MESA RTY TR	11,731	$147K	0.0%	$4.23	—	UNIT BEN INT	590660106
UBFO	UNITED SEC BANCSHARES CALIF	19,862	$130K	0.0%	$2.58	+122.3%	COM	911460103
—	SPROTT FOCUS TR INC	16,837	$116K	0.0%	$7.84	—	COM	85208J109
—	TEEKAY CORPORATION	27,580	$99,000	0.0%	$4.02	—	COM	Y8564W103
—	ABRDN EMRG MKTS EQTY INCM FD	19,485	$89,000	0.0%	$6.97	—	COM	00301W105
HNRG	HALLADOR ENERGY COMPANY	10,500	$59,000	0.0%	$4.97	+27.7%	COM	40609P105
TTI	TETRA TECHNOLOGIES INC DEL	16,000	$57,000	0.0%	$0.78	+406.3%	COM	88162F105
—	PHX MINERALS INC	15,764	$51,000	0.0%	$3.05	—	CL A	69291A100
—	YAMANA GOLD INC	10,600	$48,000	0.0%	$3.96	—	COM	98462Y100
ARQ	ADVANCED EMISSIONS SOLUTIONS	13,150	$36,000	0.0%	$5.70	-25.8%	COM	00770C101
LDI	LOANDEPOT INC	14,400	$19,000	0.0%	$4.34	-62.2%	COM CL A	53946R106
—	GRAN TIERRA ENERGY INC	11,244	$14,000	0.0%	$1.18	—	COM	38500T101
TPHS	TRINITY PL HLDGS INC	11,161	$10,000	0.0%	$3.64	-72.1%	COM	89656D101