ELKHORN PARTNERS LIMITED PARTNERSHIP Long-Term Concentrated

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
KMB	KIMBERLY CLARK CORP	2,500	$252	0.2%	$108.41	0.0%	COM	494368103
META	FACEBOOK INC	310	$205	0.1%	$667.32	0.0%	CLASS A	30303M102
Q	QNITY ELECTRONICS INC	2,500	$204	0.1%	$84.91	0.0%	COM	74743L100
COST	COSTCO WHSL CORP NEW	150	$129	0.1%	$905.73	0.0%	COM	22160K105
NFLX	NETFLIX INC	1,000	$94	0.1%	$107.81	0.0%	COM	64110L106
BATRK	ATLANTA BRAVES HLDGS INC	1,500	$59	0.0%	$39.53	0.0%	COM SER C	047726302
CME	CME GROUP INC	100	$27	0.0%	$270.74	0.0%	COM	12572Q105
FORR	FORRESTER RESH INC	3,000	$24	0.0%	$7.85	0.0%	COM	346563109
HHH	HOWARD HUGHES HOLDINGS INC	300	$24	0.0%	$82.83	0.0%	COM	44267T102
—	FG NEXUS INC	7,000	$19	0.0%	$2.75	—	COM NEW	30329Y304
FIG	FIGMA INC CLASS A COM	500	$19	0.0%	$45.19	0.0%	STK	316841105
XOM	EXXON MOBIL CORP	100	$12	0.0%	$115.49	0.0%	COM	30231G102
CABO	CABLE ONE INC	100	$11	0.0%	$136.41	0.0%	COM	12685J105
FISV	FISSERV INC	130	$9	0.0%	$83.87	0.0%	COM	337738108
WEN	WENDYS CO	1,000	$8	0.0%	$8.63	0.0%	COM	95058W100
KVUE	KENVUE INC	300	$5	0.0%	$16.26	0.0%	COM	49177J102
OFLX	OMEGA FLEX INC	100	$3	0.0%	$28.54	0.0%	COM	682095104

Increased Positions (5)

IFF INTERNATIONAL FLAVORS&FRAGRA 0.4%

Value ($000) $613 (+10.7%) Shares 9,100 (+1.1%) Est. Cost $68.36 Unrealized -5.8%

BA BOEING CO 0.6%

Value ($000) $903 (+6.5%) Shares 4,160 (+5.9%) Est. Cost $189.39 Unrealized +8.6%

AMZN AMAZON COM INC 0.0%

Value ($000) $46 (+951.3%) Shares 200 (+900.0%) Est. Cost $228.54 Unrealized +0.1%

UBER UBER TECHNOLOGIES INC 0.1%

Value ($000) $155 (-12.0%) Shares 1,900 (+5.6%) Est. Cost $72.41 Unrealized +24.3%

DELL DELL TECHNOLOGIES INC 0.0%

Value ($000) $38 (+33.2%) Shares 300 (+50.0%) Est. Cost $121.28 Unrealized +16.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
IFF	INTERNATIONAL FLAVORS&FRAGRA	9,100 (+1.1%)	$613 (+10.7%)	0.4%	$68.36	-5.8%	COM	459506101
BA	BOEING CO	4,160 (+5.9%)	$903 (+6.5%)	0.6%	$189.39	+8.6%	COM	097023105
AMZN	AMAZON COM INC	200 (+900.0%)	$46 (+951.3%)	0.0%	$228.54	+0.1%	COM	023135106
UBER	UBER TECHNOLOGIES INC	1,900 (+5.6%)	$155 (-12.0%)	0.1%	$72.41	+24.3%	COM	90353T100
DELL	DELL TECHNOLOGIES INC	300 (+50.0%)	$38 (+33.2%)	0.0%	$121.28	+16.0%	CL C	24703L202

Exited Positions (4)

SH PROSHARES TR SHORT S&P 500 0.2%

Value ($000) $259 Shares 7,000 Est. Cost $0.04 Unrealized —

GLRE GREENLIGHT CAPITAL RE LTD 0.0%

Value ($000) $64 Shares 5,000 Est. Cost $13.05 Unrealized +0.7%

AMGN AMGEN INC 0.0%

Value ($000) $37 Shares 130 Est. Cost $286.59 Unrealized +10.2%

QXO QXO INC 0.0%

Value ($000) $34 Shares 1,800 Est. Cost $19.75 Unrealized -3.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SH	PROSHARES TR SHORT S&P 500	7,000	$259	0.2%	$0.04	—	—	74349Y753
GLRE	GREENLIGHT CAPITAL RE LTD	5,000	$64	0.0%	$13.05	+0.7%	—	G4095J109
AMGN	AMGEN INC	130	$37	0.0%	$286.59	+10.2%	—	031162100
QXO	QXO INC	1,800	$34	0.0%	$19.75	-3.0%	—	82846H405

Decreased Positions (19)

WTM WHITE MTNS INS GROUP LTD 17.8%

Value ($000) $28,257 (+14.1%) Shares 13,598 (-8.2%) Est. Cost $614.01 Unrealized +218.5%

GOOGL ALPHABET INC CAP STK 3.2%

Value ($000) $5,133 (+25.7%) Shares 16,400 (-2.4%) Est. Cost $107.28 Unrealized +166.2%

GOOG ALPHABET INC CAP STK 2.9%

Value ($000) $4,550 (+24.5%) Shares 14,500 (-3.3%) Est. Cost $109.07 Unrealized +162.5%

CDZI CADIZ INC 2.3%

Value ($000) $3,658 (+13.4%) Shares 652,000 (-4.6%) Est. Cost $5.45 Unrealized -1.5%

OXY OCCIDENTAL PETE CORP 1.0%

Value ($000) $1,563 (-20.4%) Shares 38,000 (-8.5%) Est. Cost $56.87 Unrealized -26.9%

CLF CLEVELAND-CLIFFS INC NEW 0.1%

Value ($000) $165 (-57.8%) Shares 12,400 (-61.3%) Est. Cost $15.14 Unrealized -16.6%

DOW DOW INC 0.4%

Value ($000) $620 (-16.9%) Shares 26,500 (-18.5%) Est. Cost $39.23 Unrealized -41.9%

OSK OSHKOSH CORP 0.0%

Value ($000) $25 (-80.6%) Shares 200 (-80.0%) Est. Cost $98.93 Unrealized +29.3%

PFE PFIZER INC 0.1%

Value ($000) $174 (-36.7%) Shares 7,000 (-35.2%) Est. Cost $28.17 Unrealized -11.1%

ADBE ADOBE SYSTEMS INCORPORATED 0.3%

Value ($000) $420 (-15.6%) Shares 1,200 (-14.9%) Est. Cost $443.46 Unrealized -23.3%

BHVN BIOHAVEN LTD 0.0%

Value ($000) $17 (-80.9%) Shares 1,500 (-74.6%) Est. Cost $35.08 Unrealized -64.7%

UNH UNITEDHEALTH GROUP INC 0.2%

Value ($000) $297 (-18.8%) Shares 900 (-15.1%) Est. Cost $374.94 Unrealized -10.1%

CRSP CRISPR THERAPEUTICS AG NAMEN 0.1%

Value ($000) $87 (-38.9%) Shares 1,660 (-24.5%) Est. Cost $51.05 Unrealized +17.3%

CTO CTO RLTY GROWTH INC NEW 0.0%

Value ($000) $41 (-50.3%) Shares 2,200 (-56.0%) Est. Cost $29.94 Unrealized —

AAPL APPLE INC 2.0%

Value ($000) $3,143 (-0.9%) Shares 11,560 (-7.2%) Est. Cost $82.79 Unrealized +224.1%

CRDF CARDIFF ONCOLOGY INC 0.1%

Value ($000) $107 (+33.3%) Shares 38,100 (-2.3%) Est. Cost $2.86 Unrealized -18.9%

NEPH NEPHROS INC 0.0%

Value ($000) $34 (-42.2%) Shares 7,000 (-44.0%) Est. Cost $3.77 Unrealized +35.7%

ACTG ACACIA RESH CORP ACACIA TCH 0.1%

Value ($000) $129 (+11.8%) Shares 34,500 (-2.8%) Est. Cost $4.73 Unrealized -24.2%

TAYD TAYLOR DEVICES INC 0.1%

Value ($000) $88 (+5.1%) Shares 1,500 (-11.8%) Est. Cost $12.42 Unrealized +290.2%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
WTM	WHITE MTNS INS GROUP LTD	13,598 (-8.2%)	$28,257 (+14.1%)	17.8%	$614.01	+218.5%	COM	G9618E107
GOOGL	ALPHABET INC CAP STK	16,400 (-2.4%)	$5,133 (+25.7%)	3.2%	$107.28	+166.2%	CL A	02079K305
GOOG	ALPHABET INC CAP STK	14,500 (-3.3%)	$4,550 (+24.5%)	2.9%	$109.07	+162.5%	CL C	02079K107
CDZI	CADIZ INC	652,000 (-4.6%)	$3,658 (+13.4%)	2.3%	$5.45	-1.5%	COM NEW	127537207
OXY	OCCIDENTAL PETE CORP	38,000 (-8.5%)	$1,563 (-20.4%)	1.0%	$56.87	-26.9%	COM	674599105
CLF	CLEVELAND-CLIFFS INC NEW	12,400 (-61.3%)	$165 (-57.8%)	0.1%	$15.14	-16.6%	COM	185899101
DOW	DOW INC	26,500 (-18.5%)	$620 (-16.9%)	0.4%	$39.23	-41.9%	COM	260557103
OSK	OSHKOSH CORP	200 (-80.0%)	$25 (-80.6%)	0.0%	$98.93	+29.3%	COM	688239201
PFE	PFIZER INC	7,000 (-35.2%)	$174 (-36.7%)	0.1%	$28.17	-11.1%	COM	717081103
ADBE	ADOBE SYSTEMS INCORPORATED	1,200 (-14.9%)	$420 (-15.6%)	0.3%	$443.46	-23.3%	COM	00724F101
BHVN	BIOHAVEN LTD	1,500 (-74.6%)	$17 (-80.9%)	0.0%	$35.08	-64.7%	COM	G1110E107
UNH	UNITEDHEALTH GROUP INC	900 (-15.1%)	$297 (-18.8%)	0.2%	$374.94	-10.1%	COM	91324P102
CRSP	CRISPR THERAPEUTICS AG NAMEN	1,660 (-24.5%)	$87 (-38.9%)	0.1%	$51.05	+17.3%	AKT	H17182108
CTO	CTO RLTY GROWTH INC NEW	2,200 (-56.0%)	$41 (-50.3%)	0.0%	$29.94	—	COM	22948Q101
AAPL	APPLE INC	11,560 (-7.2%)	$3,143 (-0.9%)	2.0%	$82.79	+224.1%	COM	037833100
CRDF	CARDIFF ONCOLOGY INC	38,100 (-2.3%)	$107 (+33.3%)	0.1%	$2.86	-18.9%	COM	14147L108
NEPH	NEPHROS INC	7,000 (-44.0%)	$34 (-42.2%)	0.0%	$3.77	+35.7%	COM	640671400
ACTG	ACACIA RESH CORP ACACIA TCH	34,500 (-2.8%)	$129 (+11.8%)	0.1%	$4.73	-24.2%	COM	003881307
TAYD	TAYLOR DEVICES INC	1,500 (-11.8%)	$88 (+5.1%)	0.1%	$12.42	+290.2%	COM	877163105

Unchanged Positions (9)

KW KENNEDY-WILSON HOLDINGS INC 25.9%

Value ($000) $40,948 Shares 4,234,500 Est. Cost $17.25 Unrealized -48.0%

DD DUPONT DE NEMOURS INC 0.1%

Value ($000) $197 Shares 4,900 Est. Cost $27.35 Unrealized +36.7%

C CITIGROUP INC 0.5%

Value ($000) $723 Shares 6,200 Est. Cost $42.25 Unrealized +145.3%

BRK/B BERKSHIRE HATHAWAY INC DEL 17.2%

Value ($000) $27,166 Shares 54,045 Est. Cost $165.93 Unrealized +199.8%

BRK/A BERKSHIRE HATHAWAY INC DEL 23.8%

Value ($000) $37,740 Shares 50 Est. Cost $232574.23 Unrealized +220.9%

FPH FIVE POINT HOLDINGS LLC COM 0.1%

Value ($000) $117 Shares 21,000 Est. Cost $4.06 Unrealized +45.5%

RDI READING INTL INC 0.0%

Value ($000) $27 Shares 26,000 Est. Cost $8.97 Unrealized -85.6%

BABA ALIBABA GROUP HLDG LTD 0.0%

Value ($000) $44 Shares 300 Est. Cost $143.30 Unrealized —

CREX CREATIVE REALITIES INC 0.0%

Value ($000) $0 Shares 15 Est. Cost $2.04 Unrealized +35.7%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
KW	KENNEDY-WILSON HOLDINGS INC	4,234,500	$40,948	25.9%	$17.25	-48.0%	COM	489398107
DD	DUPONT DE NEMOURS INC	4,900	$197	0.1%	$27.35	+36.7%	COM	26614N102
C	CITIGROUP INC	6,200	$723	0.5%	$42.25	+145.3%	COM NEW	172967424
BRK/B	BERKSHIRE HATHAWAY INC DEL	54,045	$27,166	17.2%	$165.93	+199.8%	CL B NEW	084670702
BRK/A	BERKSHIRE HATHAWAY INC DEL	50	$37,740	23.8%	$232574.23	+220.9%	CL A	084670108
FPH	FIVE POINT HOLDINGS LLC COM	21,000	$117	0.1%	$4.06	+45.5%	CL A	33833Q106
RDI	READING INTL INC	26,000	$27	0.0%	$8.97	-85.6%	CL A	755408101
BABA	ALIBABA GROUP HLDG LTD	300	$44	0.0%	$143.30	—	SPONSORED ADS	01609W102
CREX	CREATIVE REALITIES INC	15	$0	0.0%	$2.04	+35.7%	COM	22530J309