HORIZON KINETICS ASSET MANAGEMENT LLC Diversified Active

CIK: 0001056823 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 11, 2026

Total Value ($000): $7,394,376 (100.0% shares, 0.0% debt)

Holdings (324)

New Positions (4)

WES WESTERN MIDSTREAM PARTNERS L 0.1%

Value ($000) $5,296 Shares 134,085 Est. Cost $39.50 Unrealized —

FRMI FERMI INC 0.0%

Value ($000) $870 Shares 108,701 Est. Cost $19.51 Unrealized 0.0%

LLYVK LIBERTY LIVE HOLDINGS INC 0.0%

Value ($000) $311 Shares 3,744 Est. Cost $85.87 Unrealized 0.0%

VEA VANGUARD TAX-MANAGED FDS 0.0%

Value ($000) $257 Shares 4,110 Est. Cost $62.47 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
WES	WESTERN MIDSTREAM PARTNERS L	134,085	$5,296	0.1%	$39.50	—	COM UNIT LP INT	958669103
FRMI	FERMI INC	108,701	$870	0.0%	$19.51	0.0%	COM	314911108
LLYVK	LIBERTY LIVE HOLDINGS INC	3,744	$311	0.0%	$85.87	0.0%	COM SHS SER C	530909308
VEA	VANGUARD TAX-MANAGED FDS	4,110	$257	0.0%	$62.47	—	VAN FTSE DEV MKT	921943858

Increased Positions (35)

TPL TEXAS PACIFIC LAND CORPORATI 40.1%

Value ($000) $2,968,063 (-9.3%) Shares 10,333,762 (+194.9%) Est. Cost $252.28 Unrealized +20.9%

HE HAWAIIAN ELEC INDUSTRIES 3.2%

Value ($000) $238,526 (+18.3%) Shares 19,392,363 (+6.2%) Est. Cost $10.38 Unrealized +11.6%

MIAX MIAMI INTL HLDGS INC 1.1%

Value ($000) $80,763 (+45.1%) Shares 1,819,798 (+31.6%) Est. Cost $38.51 Unrealized +15.8%

WBI WATERBRIDGE INFRASTRUCTURE L 1.9%

Value ($000) $136,819 (-14.6%) Shares 6,837,520 (+7.6%) Est. Cost $23.43 Unrealized -1.0%

TFPM TRIPLE FLAG PRECIOUS METAL 0.2%

Value ($000) $14,129 (+1728.1%) Shares 425,303 (+1510.2%) Est. Cost $30.44 Unrealized +2.8%

RGLD ROYAL GOLD INC 0.3%

Value ($000) $21,090 (+64.8%) Shares 94,876 (+48.7%) Est. Cost $123.69 Unrealized +60.4%

PBT PERMIAN BASIN RTY TR 1.4%

Value ($000) $105,069 (-5.6%) Shares 6,187,800 (+1.5%) Est. Cost $15.17 Unrealized —

VXF VANGUARD INDEX FDS 0.1%

Value ($000) $5,414 (+360.8%) Shares 25,889 (+361.3%) Est. Cost $202.23 Unrealized —

VUSB VANGUARD BD INDEX FDS 0.2%

Value ($000) $17,072 (+29.4%) Shares 342,542 (+29.8%) Est. Cost $49.63 Unrealized —

LTCN GRAYSCALE LITECOIN 0.0%

Value ($000) $2,941 (-32.8%) Shares 503,902 (+1.2%) Est. Cost $8.07 Unrealized —

SJT SAN JUAN BASIN RTY TR 0.5%

Value ($000) $35,019 (+3.3%) Shares 6,231,144 (+11.0%) Est. Cost $5.57 Unrealized —

BR BROADRIDGE FINL SOLUTIONS IN 0.1%

Value ($000) $4,558 (+27.2%) Shares 20,423 (+35.7%) Est. Cost $233.28 Unrealized -2.6%

NDAQ NASDAQ INC 0.1%

Value ($000) $6,879 (+11.1%) Shares 70,822 (+1.2%) Est. Cost $49.34 Unrealized +81.9%

AB ALLIANCEBERNSTEIN HLDG L P 0.1%

Value ($000) $7,455 (+3.6%) Shares 193,741 (+2.9%) Est. Cost $38.20 Unrealized —

RSP INVESCO EXCHANGE TRADED FD T 0.0%

Value ($000) $653 (+35.7%) Shares 3,411 (+34.3%) Est. Cost $161.99 Unrealized —

AMG AFFILIATED MANAGERS GROUP IN 0.0%

Value ($000) $633 (+34.2%) Shares 2,195 (+11.0%) Est. Cost $182.24 Unrealized +41.8%

NFLX NETFLIX INC 0.0%

Value ($000) $226 (-39.4%) Shares 2,410 (+674.9%) Est. Cost $101.27 Unrealized +6.5%

— RENN FD INC 0.0%

Value ($000) $2,225 (+6.7%) Shares 865,948 (+5.9%) Est. Cost $2.23 Unrealized —

JAPN LISTED FDS TR 0.1%

Value ($000) $4,688 (-1.8%) Shares 182,317 (+7.4%) Est. Cost $27.96 Unrealized —

XES SPDR SERIES TRUST 0.0%

Value ($000) $466 (+17.5%) Shares 5,690 (+3.7%) Est. Cost $75.46 Unrealized —

STZ CONSTELLATION BRANDS INC 0.0%

Value ($000) $645 (+10.9%) Shares 4,673 (+8.2%) Est. Cost $155.94 Unrealized -12.2%

LIN LINDE PLC 0.0%

Value ($000) $614 (-7.7%) Shares 1,440 (+2.9%) Est. Cost $382.17 Unrealized +11.8%

SON SONOCO PRODS CO 0.0%

Value ($000) $1,336 (+3.4%) Shares 30,613 (+2.1%) Est. Cost $47.04 Unrealized -12.5%

ETN EATON CORP PLC 0.0%

Value ($000) $258 (-13.4%) Shares 811 (+1.8%) Est. Cost $254.25 Unrealized +39.4%

BCDF LISTED FDS TR 0.1%

Value ($000) $4,714 (+0.8%) Shares 156,000 (+5.2%) Est. Cost $26.48 Unrealized —

AMLP ALPS ETF TR 0.0%

Value ($000) $2,836 (+1.3%) Shares 60,307 (+1.1%) Est. Cost $35.37 Unrealized —

AEHR AEHR TEST SYS 0.0%

Value ($000) $430 (-7.3%) Shares 21,300 (+38.3%) Est. Cost $22.36 Unrealized +8.2%

AXP AMERICAN EXPRESS CO 0.0%

Value ($000) $250 (+14.8%) Shares 675 (+3.1%) Est. Cost $281.67 Unrealized +26.7%

GBX GREENBRIER COS INC 0.0%

Value ($000) $407 (+5.5%) Shares 8,700 (+4.2%) Est. Cost $37.46 Unrealized +18.5%

T AT&T INC 0.0%

Value ($000) $237 (-7.6%) Shares 9,554 (+5.1%) Est. Cost $22.07 Unrealized +14.6%

NEE NEXTERA ENERGY INC 0.0%

Value ($000) $235 (+8.9%) Shares 2,930 (+2.4%) Est. Cost $72.46 Unrealized +13.9%

EOG EOG RES INC 0.0%

Value ($000) $682 (-2.2%) Shares 6,493 (+4.4%) Est. Cost $96.65 Unrealized +10.9%

NRP NATURAL RESOURCE PARTNERS L 0.0%

Value ($000) $2,596 (+0.6%) Shares 24,865 (+1.2%) Est. Cost $99.35 Unrealized —

VZ VERIZON COMMUNICATIONS INC 0.0%

Value ($000) $272 (+3.5%) Shares 6,671 (+11.7%) Est. Cost $38.93 Unrealized +4.0%

EQT EQT CORP 0.0%

Value ($000) $2,211 (+0.2%) Shares 41,253 (+1.7%) Est. Cost $50.78 Unrealized +10.5%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
TPL	TEXAS PACIFIC LAND CORPORATI	10,333,762 (+194.9%)	$2,968,063 (-9.3%)	40.1%	$252.28	+20.9%	COM	88262P102
HE	HAWAIIAN ELEC INDUSTRIES	19,392,363 (+6.2%)	$238,526 (+18.3%)	3.2%	$10.38	+11.6%	COM	419870100
MIAX	MIAMI INTL HLDGS INC	1,819,798 (+31.6%)	$80,763 (+45.1%)	1.1%	$38.51	+15.8%	COM	59356Q108
WBI	WATERBRIDGE INFRASTRUCTURE L	6,837,520 (+7.6%)	$136,819 (-14.6%)	1.9%	$23.43	-1.0%	CL A SHS REPSTG	940923105
TFPM	TRIPLE FLAG PRECIOUS METAL	425,303 (+1510.2%)	$14,129 (+1728.1%)	0.2%	$30.44	+2.8%	COM	89679M104
RGLD	ROYAL GOLD INC	94,876 (+48.7%)	$21,090 (+64.8%)	0.3%	$123.69	+60.4%	COM	780287108
PBT	PERMIAN BASIN RTY TR	6,187,800 (+1.5%)	$105,069 (-5.6%)	1.4%	$15.17	—	UNIT BEN INT	714236106
VXF	VANGUARD INDEX FDS	25,889 (+361.3%)	$5,414 (+360.8%)	0.1%	$202.23	—	EXTEND MKT ETF	922908652
VUSB	VANGUARD BD INDEX FDS	342,542 (+29.8%)	$17,072 (+29.4%)	0.2%	$49.63	—	VANGUARD ULTRA	92203C303
LTCN	GRAYSCALE LITECOIN	503,902 (+1.2%)	$2,941 (-32.8%)	0.0%	$8.07	—	TRUST LTC SHS	38963W104
SJT	SAN JUAN BASIN RTY TR	6,231,144 (+11.0%)	$35,019 (+3.3%)	0.5%	$5.57	—	UNIT BEN INT	798241105
BR	BROADRIDGE FINL SOLUTIONS IN	20,423 (+35.7%)	$4,558 (+27.2%)	0.1%	$233.28	-2.6%	COM	11133T103
NDAQ	NASDAQ INC	70,822 (+1.2%)	$6,879 (+11.1%)	0.1%	$49.34	+81.9%	COM	631103108
AB	ALLIANCEBERNSTEIN HLDG L P	193,741 (+2.9%)	$7,455 (+3.6%)	0.1%	$38.20	—	UNIT LTD PARTN	01881G106
RSP	INVESCO EXCHANGE TRADED FD T	3,411 (+34.3%)	$653 (+35.7%)	0.0%	$161.99	—	S&P500 EQL WGT	46137V357
AMG	AFFILIATED MANAGERS GROUP IN	2,195 (+11.0%)	$633 (+34.2%)	0.0%	$182.24	+41.8%	COM	008252108
NFLX	NETFLIX INC	2,410 (+674.9%)	$226 (-39.4%)	0.0%	$101.27	+6.5%	COM	64110L106
—	RENN FD INC	865,948 (+5.9%)	$2,225 (+6.7%)	0.0%	$2.23	—	COM	759720105
JAPN	LISTED FDS TR	182,317 (+7.4%)	$4,688 (-1.8%)	0.1%	$27.96	—	HORIZON KINETICS	53656H835
XES	SPDR SERIES TRUST	5,690 (+3.7%)	$466 (+17.5%)	0.0%	$75.46	—	STATE STREET SPD	78468R549
STZ	CONSTELLATION BRANDS INC	4,673 (+8.2%)	$645 (+10.9%)	0.0%	$155.94	-12.2%	CL A	21036P108
LIN	LINDE PLC	1,440 (+2.9%)	$614 (-7.7%)	0.0%	$382.17	+11.8%	SHS	G54950103
SON	SONOCO PRODS CO	30,613 (+2.1%)	$1,336 (+3.4%)	0.0%	$47.04	-12.5%	COM	835495102
ETN	EATON CORP PLC	811 (+1.8%)	$258 (-13.4%)	0.0%	$254.25	+39.4%	SHS	G29183103
BCDF	LISTED FDS TR	156,000 (+5.2%)	$4,714 (+0.8%)	0.1%	$26.48	—	HORZN KINTCS BL	53656G209
AMLP	ALPS ETF TR	60,307 (+1.1%)	$2,836 (+1.3%)	0.0%	$35.37	—	ALERIAN MLP	00162Q452
AEHR	AEHR TEST SYS	21,300 (+38.3%)	$430 (-7.3%)	0.0%	$22.36	+8.2%	COM	00760J108
AXP	AMERICAN EXPRESS CO	675 (+3.1%)	$250 (+14.8%)	0.0%	$281.67	+26.7%	COM	025816109
GBX	GREENBRIER COS INC	8,700 (+4.2%)	$407 (+5.5%)	0.0%	$37.46	+18.5%	COM	393657101
T	AT&T INC	9,554 (+5.1%)	$237 (-7.6%)	0.0%	$22.07	+14.6%	COM	00206R102
NEE	NEXTERA ENERGY INC	2,930 (+2.4%)	$235 (+8.9%)	0.0%	$72.46	+13.9%	COM	65339F101
EOG	EOG RES INC	6,493 (+4.4%)	$682 (-2.2%)	0.0%	$96.65	+10.9%	COM	26875P101
NRP	NATURAL RESOURCE PARTNERS L	24,865 (+1.2%)	$2,596 (+0.6%)	0.0%	$99.35	—	COM UNIT LTD PAR	63900P608
VZ	VERIZON COMMUNICATIONS INC	6,671 (+11.7%)	$272 (+3.5%)	0.0%	$38.93	+4.0%	COM	92343V104
EQT	EQT CORP	41,253 (+1.7%)	$2,211 (+0.2%)	0.0%	$50.78	+10.5%	COM	26884L109

Exited Positions (16)

ACGP ASSOCIATED CAP GROUP INC 0.4%

Value ($000) $27,003 Shares 805,348 Est. Cost $37.52 Unrealized -1.8%

WFG WEST FRASER TIMBER CO LTD 0.3%

Value ($000) $20,122 Shares 296,006 Est. Cost $82.28 Unrealized -23.9%

— SANDSTORM GOLD LTD 0.2%

Value ($000) $15,962 Shares 1,274,954 Est. Cost $6.84 Unrealized —

— ARIS WATER SOLUTIONS INC 0.1%

Value ($000) $5,485 Shares 222,429 Est. Cost $28.63 Unrealized —

SYK STRYKER CORPORATION 0.0%

Value ($000) $739 Shares 2,000 Est. Cost $167.09 Unrealized +117.5%

— LIBERTY MEDIA CORP DEL 0.0%

Value ($000) $565 Shares 5,822 Est. Cost $32.10 Unrealized —

TQQQ PROSHARES TR 0.0%

Value ($000) $498 Shares 4,820 Est. Cost $57.30 Unrealized —

— PROSHARES TR 0.0%

Value ($000) $493 Shares 32,383 Est. Cost $25.90 Unrealized —

CSW CSW INDUSTRIALS INC 0.0%

Value ($000) $340 Shares 1,400 Est. Cost $52.12 Unrealized +410.9%

— PIMCO NEW YORK MUN FD II 0.0%

Value ($000) $262 Shares 37,634 Est. Cost $6.95 Unrealized —

— LIBERTY MEDIA CORP DEL 0.0%

Value ($000) $232 Shares 2,459 Est. Cost $31.92 Unrealized —

KRBN KRANESHARES TRUST 0.0%

Value ($000) $221 Shares 6,834 Est. Cost $50.30 Unrealized —

MOD MODINE MFG CO 0.0%

Value ($000) $210 Shares 1,480 Est. Cost $89.24 Unrealized +66.9%

SMR NUSCALE PWR CORP 0.0%

Value ($000) $207 Shares 5,750 Est. Cost $20.63 Unrealized +38.6%

LMT LOCKHEED MARTIN CORP 0.0%

Value ($000) $203 Shares 407 Est. Cost $459.07 Unrealized +3.7%

— NUVEEN MUN HIGH INCOME OPPOR 0.0%

Value ($000) $110 Shares 10,369 Est. Cost $12.77 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ACGP	ASSOCIATED CAP GROUP INC	805,348	$27,003	0.4%	$37.52	-1.8%	—	045528106
WFG	WEST FRASER TIMBER CO LTD	296,006	$20,122	0.3%	$82.28	-23.9%	—	952845105
—	SANDSTORM GOLD LTD	1,274,954	$15,962	0.2%	$6.84	—	—	80013R206
—	ARIS WATER SOLUTIONS INC	222,429	$5,485	0.1%	$28.63	—	—	04041L106
SYK	STRYKER CORPORATION	2,000	$739	0.0%	$167.09	+117.5%	—	863667101
—	LIBERTY MEDIA CORP DEL	5,822	$565	0.0%	$32.10	—	—	531229722
TQQQ	PROSHARES TR	4,820	$498	0.0%	$57.30	—	—	74347X831
—	PROSHARES TR	32,383	$493	0.0%	$25.90	—	—	74347G192
CSW	CSW INDUSTRIALS INC	1,400	$340	0.0%	$52.12	+410.9%	—	126402106
—	PIMCO NEW YORK MUN FD II	37,634	$262	0.0%	$6.95	—	—	72200Y102
—	LIBERTY MEDIA CORP DEL	2,459	$232	0.0%	$31.92	—	—	531229748
KRBN	KRANESHARES TRUST	6,834	$221	0.0%	$50.30	—	—	500767678
MOD	MODINE MFG CO	1,480	$210	0.0%	$89.24	+66.9%	—	607828100
SMR	NUSCALE PWR CORP	5,750	$207	0.0%	$20.63	+38.6%	—	67079K100
LMT	LOCKHEED MARTIN CORP	407	$203	0.0%	$459.07	+3.7%	—	539830109
—	NUVEEN MUN HIGH INCOME OPPOR	10,369	$110	0.0%	$12.77	—	—	670682103

Decreased Positions (155)

FNV FRANCO NEV CORP 2.7%

Value ($000) $200,668 (-11.1%) Shares 968,101 (-4.4%) Est. Cost $98.29 Unrealized +106.3%

LNG CHENIERE ENERGY INC 1.2%

Value ($000) $90,067 (-19.0%) Shares 463,329 (-2.0%) Est. Cost $92.05 Unrealized +128.1%

WPM WHEATON PRECIOUS METALS CORP 4.0%

Value ($000) $293,038 (-6.2%) Shares 2,493,518 (-10.7%) Est. Cost $29.40 Unrealized +264.2%

IBIT ISHARES BITCOIN TRUST ETF 0.5%

Value ($000) $39,564 (-26.4%) Shares 796,863 (-3.6%) Est. Cost $42.83 Unrealized —

DBRG DIGITALBRIDGE GROUP INC 0.6%

Value ($000) $46,734 (+21.5%) Shares 3,046,533 (-7.3%) Est. Cost $13.18 Unrealized -8.9%

BKKT BAKKT HOLDINGS INC 0.0%

Value ($000) $3,260 (-70.5%) Shares 324,706 (-1.2%) Est. Cost $13.48 Unrealized +64.0%

CVEO CIVEO CORP CDA 0.8%

Value ($000) $56,020 (-9.5%) Shares 2,449,487 (-9.0%) Est. Cost $13.86 Unrealized +60.1%

CACI CACI INTL INC 1.1%

Value ($000) $84,499 (+5.4%) Shares 158,591 (-1.3%) Est. Cost $199.20 Unrealized +183.7%

LYV LIVE NATION ENTERTAINMENT IN 0.3%

Value ($000) $24,208 (-13.9%) Shares 169,884 (-1.3%) Est. Cost $56.72 Unrealized +153.4%

AN AUTONATION INC 0.7%

Value ($000) $52,958 (-6.7%) Shares 256,479 (-1.1%) Est. Cost $36.20 Unrealized +474.6%

DMLP DORCHESTER MINERALS LP 0.3%

Value ($000) $19,580 (-14.6%) Shares 875,662 (-1.1%) Est. Cost $17.43 Unrealized —

RCL ROYAL CARIBBEAN GROUP 0.2%

Value ($000) $14,715 (-15.8%) Shares 52,758 (-2.4%) Est. Cost $69.36 Unrealized +306.0%

BN BROOKFIELD CORP 1.0%

Value ($000) $72,676 (-3.6%) Shares 1,583,710 (-4.0%) Est. Cost $29.81 Unrealized +52.8%

LBRDK LIBERTY BROADBAND CORP 0.0%

Value ($000) $202 (-91.3%) Shares 4,151 (-88.6%) Est. Cost $86.12 Unrealized -39.6%

LBRT LIBERTY ENERGY INC 0.1%

Value ($000) $6,326 (+47.8%) Shares 342,711 (-1.2%) Est. Cost $15.24 Unrealized +9.6%

HHH HOWARD HUGHES HOLDINGS INC 0.3%

Value ($000) $23,401 (-7.0%) Shares 293,360 (-4.2%) Est. Cost $75.45 Unrealized +9.8%

SPGI S&P GLOBAL INC 0.0%

Value ($000) $2,236 (-43.4%) Shares 4,278 (-47.3%) Est. Cost $388.94 Unrealized +27.1%

SPAQ LISTED FDS TR 0.1%

Value ($000) $6,524 (-18.5%) Shares 71,954 (-6.4%) Est. Cost $97.01 Unrealized —

SPHR SPHERE ENTERTAINMENT CO 0.1%

Value ($000) $4,513 (+47.1%) Shares 47,463 (-3.9%) Est. Cost $36.93 Unrealized +106.3%

WEN WENDYS CO 0.0%

Value ($000) $2,998 (-29.8%) Shares 359,896 (-22.8%) Est. Cost $17.24 Unrealized -50.0%

BRK/B BERKSHIRE HATHAWAY INC DEL 0.3%

Value ($000) $19,095 (-5.9%) Shares 37,988 (-5.9%) Est. Cost $216.21 Unrealized +130.1%

LLY ELI LILLY & CO 0.1%

Value ($000) $4,413 (+36.2%) Shares 4,106 (-3.3%) Est. Cost $435.57 Unrealized +119.4%

BUR BURFORD CAP LTD 0.0%

Value ($000) $557 (-65.6%) Shares 62,445 (-53.9%) Est. Cost $13.37 Unrealized -26.8%

ELS EQUITY LIFESTYLE PPTYS INC 0.0%

Value ($000) $1,513 (-39.4%) Shares 24,970 (-39.3%) Est. Cost $88.39 Unrealized —

EXP EAGLE MATLS INC 0.0%

Value ($000) $3,461 (-20.9%) Shares 16,743 (-10.8%) Est. Cost $205.68 Unrealized +7.2%

FCX FREEPORT-MCMORAN INC 0.1%

Value ($000) $4,729 (+23.8%) Shares 93,114 (-4.4%) Est. Cost $21.10 Unrealized +105.3%

VGSH VANGUARD SCOTTSDALE FDS 0.1%

Value ($000) $6,465 (-12.1%) Shares 110,086 (-11.9%) Est. Cost $59.22 Unrealized —

RBA RB GLOBAL INC 0.1%

Value ($000) $11,072 (-6.9%) Shares 107,627 (-1.9%) Est. Cost $59.30 Unrealized +71.3%

CMRE COSTAMARE INC 0.0%

Value ($000) $3,505 (+29.6%) Shares 221,950 (-2.3%) Est. Cost $7.24 Unrealized +90.9%

FWONK LIBERTY MEDIA CORP DEL 0.1%

Value ($000) $8,040 (-8.7%) Shares 81,617 (-3.2%) Est. Cost $62.30 Unrealized —

WMB WILLIAMS COS INC 0.1%

Value ($000) $8,254 (-8.2%) Shares 137,321 (-3.3%) Est. Cost $22.73 Unrealized +164.3%

REZI RESIDEO TECHNOLOGIES INC 0.0%

Value ($000) $1,886 (-26.2%) Shares 53,696 (-9.3%) Est. Cost $12.82 Unrealized +188.7%

MSGS MADISON SQUARE GRDN SPRT COR 0.1%

Value ($000) $6,038 (+12.1%) Shares 23,344 (-1.6%) Est. Cost $202.53 Unrealized +12.4%

SLV ISHARES SILVER TR 0.0%

Value ($000) $1,894 (+46.1%) Shares 29,395 (-3.9%) Est. Cost $19.42 Unrealized —

BGC BGC GROUP INC 0.0%

Value ($000) $237 (-71.1%) Shares 26,562 (-69.4%) Est. Cost $5.43 Unrealized +65.5%

ADM ARCHER DANIELS MIDLAND CO 0.0%

Value ($000) $3,461 (-14.0%) Shares 60,202 (-10.7%) Est. Cost $57.05 Unrealized +4.3%

MRK MERCK & CO INC 0.0%

Value ($000) $2,963 (+23.4%) Shares 28,147 (-1.6%) Est. Cost $73.35 Unrealized +27.1%

XOM EXXON MOBIL CORP 0.1%

Value ($000) $4,643 (-9.7%) Shares 38,580 (-15.4%) Est. Cost $65.38 Unrealized +76.6%

CRL CHARLES RIV LABS INTL INC 0.0%

Value ($000) $2,509 (+24.3%) Shares 12,580 (-2.5%) Est. Cost $261.22 Unrealized -30.6%

MO ALTRIA GROUP INC 0.0%

Value ($000) $2,226 (-17.1%) Shares 38,607 (-5.0%) Est. Cost $35.42 Unrealized +67.6%

IRM IRON MTN INC DEL 0.0%

Value ($000) $1,527 (-23.0%) Shares 18,405 (-5.4%) Est. Cost $48.13 Unrealized +92.8%

ET ENERGY TRANSFER L P 0.1%

Value ($000) $5,931 (-6.5%) Shares 359,648 (-2.7%) Est. Cost $13.57 Unrealized —

EPD ENTERPRISE PRODS PARTNERS L 0.0%

Value ($000) $3,593 (-9.8%) Shares 112,063 (-12.0%) Est. Cost $25.13 Unrealized —

MSFT MICROSOFT CORP 0.0%

Value ($000) $3,486 (-10.0%) Shares 7,208 (-3.7%) Est. Cost $236.61 Unrealized +111.6%

FWONA LIBERTY MEDIA CORP DEL 0.0%

Value ($000) $3,219 (-10.5%) Shares 36,018 (-4.6%) Est. Cost $56.54 Unrealized —

WT WISDOMTREE INC 0.0%

Value ($000) $2,419 (-13.4%) Shares 198,477 (-1.3%) Est. Cost $6.00 Unrealized +101.4%

FNF FIDELITY NATIONAL FINANCIAL 0.0%

Value ($000) $2,388 (-12.7%) Shares 43,740 (-3.3%) Est. Cost $38.41 Unrealized +42.5%

SIRI SIRIUSXM HOLDINGS INC 0.0%

Value ($000) $587 (-36.9%) Shares 29,366 (-26.6%) Est. Cost $31.06 Unrealized -30.8%

LVS LAS VEGAS SANDS CORP 0.0%

Value ($000) $2,555 (+13.6%) Shares 39,260 (-6.1%) Est. Cost $49.64 Unrealized +23.3%

JNJ JOHNSON & JOHNSON 0.0%

Value ($000) $3,301 (+10.0%) Shares 15,949 (-1.4%) Est. Cost $116.83 Unrealized +68.6%

TD TORONTO DOMINION BK ONT 0.0%

Value ($000) $2,196 (+14.8%) Shares 23,317 (-2.5%) Est. Cost $56.49 Unrealized +49.5%

TELFY TELEFONICA S A 0.0%

Value ($000) $822 (-24.5%) Shares 203,058 (-5.3%) Est. Cost $4.34 Unrealized —

ABBV ABBVIE INC 0.1%

Value ($000) $4,465 (-5.3%) Shares 19,541 (-4.0%) Est. Cost $69.38 Unrealized +228.0%

LHX L3HARRIS TECHNOLOGIES INC 0.0%

Value ($000) $2,756 (-8.0%) Shares 9,388 (-4.3%) Est. Cost $198.74 Unrealized +45.1%

ADP AUTOMATIC DATA PROCESSING IN 0.0%

Value ($000) $233 (-50.3%) Shares 904 (-43.3%) Est. Cost $279.29 Unrealized -5.2%

NVDA NVIDIA CORPORATION 0.0%

Value ($000) $1,382 (-14.0%) Shares 7,410 (-13.9%) Est. Cost $105.21 Unrealized +76.9%

PM PHILIP MORRIS INTL INC 0.0%

Value ($000) $3,184 (-6.6%) Shares 19,851 (-5.5%) Est. Cost $78.87 Unrealized +94.7%

GOOG ALPHABET INC 0.0%

Value ($000) $1,022 (+27.2%) Shares 3,258 (-1.3%) Est. Cost $105.46 Unrealized +171.5%

CSCO CISCO SYS INC 0.0%

Value ($000) $3,000 (+7.7%) Shares 38,941 (-4.3%) Est. Cost $41.62 Unrealized +77.3%

GOOGL ALPHABET INC 0.0%

Value ($000) $965 (+26.0%) Shares 3,083 (-2.1%) Est. Cost $120.05 Unrealized +137.9%

RYN RAYONIER INC 0.0%

Value ($000) $341 (-36.8%) Shares 15,773 (-22.5%) Est. Cost $29.71 Unrealized —

HON HONEYWELL INTL INC 0.0%

Value ($000) $1,189 (-14.2%) Shares 6,095 (-7.4%) Est. Cost $148.14 Unrealized +31.7%

KMI KINDER MORGAN INC DEL 0.0%

Value ($000) $1,372 (-12.1%) Shares 49,923 (-9.4%) Est. Cost $14.66 Unrealized +83.5%

ALNY ALNYLAM PHARMACEUTICALS INC 0.0%

Value ($000) $945 (-16.5%) Shares 2,376 (-4.2%) Est. Cost $140.20 Unrealized +215.7%

LEN LENNAR CORP 0.0%

Value ($000) $482 (-27.3%) Shares 4,689 (-10.9%) Est. Cost $61.61 Unrealized +95.9%

BAC BANK AMERICA CORP 0.0%

Value ($000) $1,131 (-13.6%) Shares 20,560 (-18.9%) Est. Cost $31.25 Unrealized +68.5%

CAT CATERPILLAR INC 0.0%

Value ($000) $2,645 (+7.0%) Shares 4,617 (-10.9%) Est. Cost $183.01 Unrealized +203.5%

ARLP ALLIANCE RESOURCE PARTNERS L 0.0%

Value ($000) $1,490 (-9.8%) Shares 64,141 (-1.9%) Est. Cost $26.33 Unrealized —

BX BLACKSTONE INC 0.0%

Value ($000) $1,272 (-11.3%) Shares 8,251 (-1.6%) Est. Cost $111.77 Unrealized +35.5%

SU SUNCOR ENERGY INC NEW 0.0%

Value ($000) $2,430 (-6.2%) Shares 54,777 (-11.6%) Est. Cost $27.42 Unrealized +54.2%

— PIMCO DYNAMIC INCOME FD 0.0%

Value ($000) $899 (-15.0%) Shares 50,752 (-4.9%) Est. Cost $26.74 Unrealized —

RYAM RAYONIER ADVANCED MATLS INC 0.0%

Value ($000) $557 (-22.1%) Shares 94,500 (-4.5%) Est. Cost $6.50 Unrealized -0.0%

CRSP CRISPR THERAPEUTICS AG 0.0%

Value ($000) $537 (-22.4%) Shares 10,239 (-4.1%) Est. Cost $51.00 Unrealized +17.4%

WPC WP CAREY INC 0.0%

Value ($000) $1,416 (-9.9%) Shares 22,000 (-5.4%) Est. Cost $66.96 Unrealized —

FIS FIDELITY NATL INFORMATION SV 0.0%

Value ($000) $1,352 (-10.0%) Shares 20,350 (-10.7%) Est. Cost $61.37 Unrealized +7.0%

ABT ABBOTT LABS 0.0%

Value ($000) $1,259 (-10.1%) Shares 10,051 (-3.9%) Est. Cost $69.40 Unrealized +83.4%

REGN REGENERON PHARMACEUTICALS 0.0%

Value ($000) $544 (+31.7%) Shares 705 (-4.1%) Est. Cost $745.67 Unrealized -9.0%

GDXJ VANECK ETF TRUST 0.0%

Value ($000) $1,208 (+12.1%) Shares 10,621 (-2.4%) Est. Cost $44.98 Unrealized —

AZN ASTRAZENECA PLC 0.0%

Value ($000) $1,011 (+14.8%) Shares 10,994 (-4.2%) Est. Cost $41.43 Unrealized —

IONS IONIS PHARMACEUTICALS INC 0.0%

Value ($000) $946 (+15.8%) Shares 11,952 (-4.2%) Est. Cost $52.86 Unrealized +42.5%

INFL LISTED FDS TR 0.1%

Value ($000) $4,401 (-2.8%) Shares 98,980 (-2.3%) Est. Cost $30.37 Unrealized —

GSK GSK PLC 0.0%

Value ($000) $1,221 (+11.5%) Shares 24,892 (-1.9%) Est. Cost $35.20 Unrealized —

NTLA INTELLIA THERAPEUTICS INC 0.0%

Value ($000) $124 (-50.1%) Shares 13,792 (-4.2%) Est. Cost $23.36 Unrealized -41.1%

PCH POTLATCHDELTIC CORPORATION 0.0%

Value ($000) $933 (-11.4%) Shares 23,457 (-9.2%) Est. Cost $41.64 Unrealized —

PFE PFIZER INC 0.0%

Value ($000) $1,685 (-6.6%) Shares 67,671 (-4.5%) Est. Cost $27.47 Unrealized -8.9%

DHR DANAHER CORPORATION 0.0%

Value ($000) $1,011 (+13.4%) Shares 4,416 (-1.8%) Est. Cost $105.78 Unrealized +107.6%

CVX CHEVRON CORP NEW 0.0%

Value ($000) $2,031 (-5.5%) Shares 13,328 (-3.7%) Est. Cost $101.77 Unrealized +48.8%

PTEN PATTERSON-UTI ENERGY INC 0.0%

Value ($000) $1,580 (-6.8%) Shares 258,608 (-21.0%) Est. Cost $13.11 Unrealized -54.5%

WY WEYERHAEUSER CO MTN BE 0.0%

Value ($000) $261 (-30.5%) Shares 11,026 (-27.3%) Est. Cost $30.77 Unrealized -25.3%

GLD SPDR GOLD TR 0.0%

Value ($000) $1,444 (+8.5%) Shares 3,643 (-2.7%) Est. Cost $161.21 Unrealized —

NSC NORFOLK SOUTHN CORP 0.0%

Value ($000) $876 (-10.9%) Shares 3,033 (-7.3%) Est. Cost $160.97 Unrealized +79.3%

NEM NEWMONT CORP 0.0%

Value ($000) $780 (+14.7%) Shares 7,813 (-3.1%) Est. Cost $47.69 Unrealized +89.1%

KRP KIMBELL RTY PARTNERS LP 0.0%

Value ($000) $458 (-17.1%) Shares 38,934 (-5.0%) Est. Cost $16.22 Unrealized —

RTX RTX CORPORATION 0.0%

Value ($000) $2,335 (+4.2%) Shares 12,731 (-5.0%) Est. Cost $78.51 Unrealized +120.8%

CRAI CRA INTL INC 0.0%

Value ($000) $1,525 (-5.7%) Shares 7,601 (-2.0%) Est. Cost $159.59 Unrealized +17.8%

VNDA VANDA PHARMACEUTICALS INC 0.0%

Value ($000) $219 (+69.3%) Shares 24,824 (-4.2%) Est. Cost $6.84 Unrealized -19.5%

BIIB BIOGEN INC 0.0%

Value ($000) $526 (+20.4%) Shares 2,988 (-4.2%) Est. Cost $302.30 Unrealized -46.0%

SEE SEALED AIR CORP NEW 0.0%

Value ($000) $1,398 (+6.8%) Shares 33,750 (-8.9%) Est. Cost $35.40 Unrealized +9.0%

AMGN AMGEN INC 0.0%

Value ($000) $818 (+11.6%) Shares 2,498 (-3.8%) Est. Cost $153.80 Unrealized +105.4%

MKL MARKEL GROUP INC 0.1%

Value ($000) $4,517 (-1.8%) Shares 2,102 (-12.7%) Est. Cost $1015.52 Unrealized +99.5%

— DOUBLELINE OPPORTUNISTIC CR 0.0%

Value ($000) $317 (-19.4%) Shares 20,777 (-17.6%) Est. Cost $20.21 Unrealized —

BSM BLACK STONE MINERALS L P 0.0%

Value ($000) $2,010 (-3.6%) Shares 151,238 (-4.7%) Est. Cost $14.51 Unrealized —

REPL REPLIMUNE GROUP INC 0.0%

Value ($000) $134 (+122.2%) Shares 13,792 (-4.2%) Est. Cost $22.58 Unrealized -62.4%

ALKS ALKERMES PLC 0.0%

Value ($000) $617 (-10.6%) Shares 22,066 (-4.2%) Est. Cost $31.56 Unrealized -5.1%

— COHEN & STEERS QUALITY INCOM 0.0%

Value ($000) $571 (-11.1%) Shares 50,033 (-2.9%) Est. Cost $13.43 Unrealized —

— DOUBLELINE INCOME SOLUTIONS 0.0%

Value ($000) $594 (-10.7%) Shares 52,682 (-2.6%) Est. Cost $18.81 Unrealized —

GS GOLDMAN SACHS GROUP INC 0.0%

Value ($000) $838 (-7.7%) Shares 953 (-16.4%) Est. Cost $164.18 Unrealized +395.4%

DIS DISNEY WALT CO 0.0%

Value ($000) $540 (-11.5%) Shares 4,748 (-10.9%) Est. Cost $103.46 Unrealized +5.9%

EMR EMERSON ELEC CO 0.0%

Value ($000) $2,222 (-2.9%) Shares 16,742 (-4.0%) Est. Cost $71.68 Unrealized +84.7%

IAU ISHARES GOLD TR 0.0%

Value ($000) $695 (+10.0%) Shares 8,566 (-1.4%) Est. Cost $33.70 Unrealized —

ROK ROCKWELL AUTOMATION INC 0.0%

Value ($000) $1,640 (+3.9%) Shares 4,215 (-6.6%) Est. Cost $183.05 Unrealized +105.0%

UNH UNITEDHEALTH GROUP INC 0.0%

Value ($000) $527 (-10.0%) Shares 1,595 (-5.9%) Est. Cost $298.94 Unrealized +12.8%

NVS NOVARTIS AG 0.0%

Value ($000) $1,571 (+3.8%) Shares 11,394 (-3.4%) Est. Cost $95.51 Unrealized —

OXY OCCIDENTAL PETE CORP 0.0%

Value ($000) $229 (-19.7%) Shares 5,577 (-7.7%) Est. Cost $57.10 Unrealized -27.2%

GM GENERAL MTRS CO 0.0%

Value ($000) $389 (-12.6%) Shares 4,783 (-34.5%) Est. Cost $41.86 Unrealized +68.2%

GDX VANECK ETF TRUST 0.0%

Value ($000) $744 (+7.5%) Shares 8,673 (-4.2%) Est. Cost $32.79 Unrealized —

EBAY EBAY INC. 0.0%

Value ($000) $640 (-7.2%) Shares 7,347 (-3.1%) Est. Cost $57.14 Unrealized +51.2%

META META PLATFORMS INC 0.0%

Value ($000) $376 (-11.7%) Shares 570 (-1.7%) Est. Cost $331.42 Unrealized +101.4%

KLAC KLA CORP 0.0%

Value ($000) $3,457 (-1.4%) Shares 2,845 (-12.5%) Est. Cost $258.34 Unrealized +353.6%

EDIT EDITAS MEDICINE INC 0.0%

Value ($000) $62 (-43.4%) Shares 30,340 (-4.2%) Est. Cost $8.39 Unrealized -65.6%

OIH VANECK ETF TRUST 0.0%

Value ($000) $973 (+4.9%) Shares 3,415 (-4.2%) Est. Cost $144.92 Unrealized —

VRT VERTIV HOLDINGS CO 0.0%

Value ($000) $1,786 (-2.4%) Shares 11,025 (-9.1%) Est. Cost $84.71 Unrealized +104.9%

PHYS SPROTT ASSET MANAGEMENT LP 0.0%

Value ($000) $537 (+9.0%) Shares 16,262 (-2.2%) Est. Cost $14.31 Unrealized —

LTRN LANTERN PHARMA INC 0.0%

Value ($000) $84 (-33.3%) Shares 27,582 (-4.2%) Est. Cost $5.13 Unrealized -27.5%

— NUVEEN AMT FREE MUN CR INC F 0.0%

Value ($000) $131 (-22.6%) Shares 10,375 (-24.8%) Est. Cost $14.32 Unrealized —

IBM INTERNATIONAL BUSINESS MACHS 0.0%

Value ($000) $1,099 (+2.8%) Shares 3,710 (-2.1%) Est. Cost $113.06 Unrealized +164.3%

JPM JPMORGAN CHASE & CO. 0.0%

Value ($000) $609 (-4.6%) Shares 1,891 (-6.6%) Est. Cost $136.36 Unrealized +127.0%

WOOD ISHARES TR 0.0%

Value ($000) $396 (-6.8%) Shares 5,505 (-5.0%) Est. Cost $64.65 Unrealized —

— NUVEEN TAXABLE MUNICPAL INM 0.0%

Value ($000) $395 (-6.6%) Shares 24,993 (-4.2%) Est. Cost $20.69 Unrealized —

GE GE AEROSPACE 0.0%

Value ($000) $1,974 (+1.3%) Shares 6,409 (-1.1%) Est. Cost $60.71 Unrealized +395.5%

GEV GE VERNOVA INC 0.0%

Value ($000) $943 (+2.7%) Shares 1,443 (-3.3%) Est. Cost $160.99 Unrealized +278.3%

BNT BROOKFIELD WEALTH SOL LTD 0.0%

Value ($000) $1,412 (-1.7%) Shares 30,737 (-2.4%) Est. Cost $35.32 Unrealized +29.1%

ETH GRAYSCALE ETHEREUM MINI TR E 0.0%

Value ($000) $18 (-57.0%) Shares 652 (-40.0%) Est. Cost $34.48 Unrealized —

BEAM BEAM THERAPEUTICS INC 0.0%

Value ($000) $255 (+9.4%) Shares 9,194 (-4.2%) Est. Cost $19.89 Unrealized +28.3%

AWK AMERICAN WTR WKS CO INC NEW 0.0%

Value ($000) $218 (-9.1%) Shares 1,671 (-3.0%) Est. Cost $139.92 Unrealized -4.8%

— NUVEEN MUNICIPAL CREDIT INC 0.0%

Value ($000) $327 (-6.1%) Shares 25,965 (-6.2%) Est. Cost $14.50 Unrealized —

AWR AMER STATES WTR CO 0.0%

Value ($000) $308 (-6.1%) Shares 4,244 (-5.0%) Est. Cost $78.80 Unrealized -6.9%

AAPL APPLE INC 0.0%

Value ($000) $1,886 (+0.8%) Shares 6,939 (-5.6%) Est. Cost $121.16 Unrealized +121.5%

CNS COHEN & STEERS INC 0.0%

Value ($000) $204 (-7.0%) Shares 3,256 (-2.8%) Est. Cost $64.32 Unrealized +0.7%

— NUVEEN NEW YORK QLT MUN INC 0.0%

Value ($000) $243 (-5.6%) Shares 21,550 (-4.2%) Est. Cost $12.61 Unrealized —

GEHC GE HEALTHCARE TECHNOLOGIES I 0.0%

Value ($000) $239 (+6.4%) Shares 2,911 (-2.6%) Est. Cost $71.43 Unrealized +9.1%

BCYC BICYCLE THERAPEUTICS PLC 0.0%

Value ($000) $98 (-12.4%) Shares 13,792 (-4.2%) Est. Cost $20.41 Unrealized —

GALT GALECTIN THERAPEUTICS INC 0.0%

Value ($000) $214 (-5.9%) Shares 51,484 (-4.2%) Est. Cost $2.51 Unrealized +109.6%

AMZN AMAZON COM INC 0.0%

Value ($000) $357 (+3.8%) Shares 1,546 (-1.3%) Est. Cost $177.26 Unrealized +29.1%

MMM 3M CO 0.0%

Value ($000) $913 (+1.4%) Shares 5,700 (-1.7%) Est. Cost $95.66 Unrealized +70.6%

CMDB COSTAMARE BULKERS HLDGS LTD 0.0%

Value ($000) $492 (-2.3%) Shares 31,910 (-8.9%) Est. Cost $10.03 Unrealized +44.4%

HLN HALEON PLC 0.0%

Value ($000) $136 (+8.0%) Shares 13,491 (-4.2%) Est. Cost $8.10 Unrealized —

SBLK STAR BULK CARRIERS CORP. 0.0%

Value ($000) $974 (+1.0%) Shares 50,701 (-2.4%) Est. Cost $24.05 Unrealized -22.4%

VTI VANGUARD INDEX FDS 0.0%

Value ($000) $312 (-2.9%) Shares 930 (-4.9%) Est. Cost $144.72 Unrealized —

ADI ANALOG DEVICES INC 0.0%

Value ($000) $1,148 (-0.6%) Shares 4,231 (-10.0%) Est. Cost $101.36 Unrealized +147.3%

V VISA INC 0.0%

Value ($000) $1,636 (+0.4%) Shares 4,666 (-2.2%) Est. Cost $162.29 Unrealized +109.7%

PACB PACIFIC BIOSCIENCES CALIF IN 0.0%

Value ($000) $21 (+40.0%) Shares 11,034 (-4.2%) Est. Cost $6.77 Unrealized -71.6%

BA BOEING CO 0.0%

Value ($000) $218 (-2.0%) Shares 1,006 (-2.6%) Est. Cost $189.84 Unrealized +8.3%

ALLO ALLOGENE THERAPEUTICS INC 0.0%

Value ($000) $25 (+5.8%) Shares 18,388 (-4.2%) Est. Cost $6.04 Unrealized -78.1%

VMI VALMONT INDS INC 0.0%

Value ($000) $523 (-0.1%) Shares 1,301 (-3.7%) Est. Cost $184.98 Unrealized +120.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
FNV	FRANCO NEV CORP	968,101 (-4.4%)	$200,668 (-11.1%)	2.7%	$98.29	+106.3%	COM	351858105
LNG	CHENIERE ENERGY INC	463,329 (-2.0%)	$90,067 (-19.0%)	1.2%	$92.05	+128.1%	COM NEW	16411R208
WPM	WHEATON PRECIOUS METALS CORP	2,493,518 (-10.7%)	$293,038 (-6.2%)	4.0%	$29.40	+264.2%	COM	962879102
IBIT	ISHARES BITCOIN TRUST ETF	796,863 (-3.6%)	$39,564 (-26.4%)	0.5%	$42.83	—	SHS BEN INT	46438F101
DBRG	DIGITALBRIDGE GROUP INC	3,046,533 (-7.3%)	$46,734 (+21.5%)	0.6%	$13.18	-8.9%	CL A NEW	25401T603
BKKT	BAKKT HOLDINGS INC	324,706 (-1.2%)	$3,260 (-70.5%)	0.0%	$13.48	+64.0%	COM CL A NEW	05759B305
CVEO	CIVEO CORP CDA	2,449,487 (-9.0%)	$56,020 (-9.5%)	0.8%	$13.86	+60.1%	COM NEW	17878Y207
CACI	CACI INTL INC	158,591 (-1.3%)	$84,499 (+5.4%)	1.1%	$199.20	+183.7%	CL A	127190304
LYV	LIVE NATION ENTERTAINMENT IN	169,884 (-1.3%)	$24,208 (-13.9%)	0.3%	$56.72	+153.4%	COM	538034109
AN	AUTONATION INC	256,479 (-1.1%)	$52,958 (-6.7%)	0.7%	$36.20	+474.6%	COM	05329W102
DMLP	DORCHESTER MINERALS LP	875,662 (-1.1%)	$19,580 (-14.6%)	0.3%	$17.43	—	COM UNIT	25820R105
RCL	ROYAL CARIBBEAN GROUP	52,758 (-2.4%)	$14,715 (-15.8%)	0.2%	$69.36	+306.0%	COM	V7780T103
BN	BROOKFIELD CORP	1,583,710 (-4.0%)	$72,676 (-3.6%)	1.0%	$29.81	+52.8%	CL A LTD VT SH	11271J107
LBRDK	LIBERTY BROADBAND CORP	4,151 (-88.6%)	$202 (-91.3%)	0.0%	$86.12	-39.6%	COM SER C	530307305
LBRT	LIBERTY ENERGY INC	342,711 (-1.2%)	$6,326 (+47.8%)	0.1%	$15.24	+9.6%	COM CL A	53115L104
HHH	HOWARD HUGHES HOLDINGS INC	293,360 (-4.2%)	$23,401 (-7.0%)	0.3%	$75.45	+9.8%	COM	44267T102
SPGI	S&P GLOBAL INC	4,278 (-47.3%)	$2,236 (-43.4%)	0.0%	$388.94	+27.1%	COM	78409V104
SPAQ	LISTED FDS TR	71,954 (-6.4%)	$6,524 (-18.5%)	0.1%	$97.01	—	HORZN KNTCS SPAC	53656G555
SPHR	SPHERE ENTERTAINMENT CO	47,463 (-3.9%)	$4,513 (+47.1%)	0.1%	$36.93	+106.3%	CL A	55826T102
WEN	WENDYS CO	359,896 (-22.8%)	$2,998 (-29.8%)	0.0%	$17.24	-50.0%	COM	95058W100
BRK/B	BERKSHIRE HATHAWAY INC DEL	37,988 (-5.9%)	$19,095 (-5.9%)	0.3%	$216.21	+130.1%	CL B NEW	084670702
LLY	ELI LILLY & CO	4,106 (-3.3%)	$4,413 (+36.2%)	0.1%	$435.57	+119.4%	COM	532457108
BUR	BURFORD CAP LTD	62,445 (-53.9%)	$557 (-65.6%)	0.0%	$13.37	-26.8%	ORD SHS	G17977110
ELS	EQUITY LIFESTYLE PPTYS INC	24,970 (-39.3%)	$1,513 (-39.4%)	0.0%	$88.39	—	COM	29472R108
EXP	EAGLE MATLS INC	16,743 (-10.8%)	$3,461 (-20.9%)	0.0%	$205.68	+7.2%	COM	26969P108
FCX	FREEPORT-MCMORAN INC	93,114 (-4.4%)	$4,729 (+23.8%)	0.1%	$21.10	+105.3%	CL B	35671D857
VGSH	VANGUARD SCOTTSDALE FDS	110,086 (-11.9%)	$6,465 (-12.1%)	0.1%	$59.22	—	SHORT TERM TREAS	92206C102
RBA	RB GLOBAL INC	107,627 (-1.9%)	$11,072 (-6.9%)	0.1%	$59.30	+71.3%	COM	74935Q107
CMRE	COSTAMARE INC	221,950 (-2.3%)	$3,505 (+29.6%)	0.0%	$7.24	+90.9%	SHS	Y1771G102
FWONK	LIBERTY MEDIA CORP DEL	81,617 (-3.2%)	$8,040 (-8.7%)	0.1%	$62.30	—	COM LBTY ONE S C	531229755
WMB	WILLIAMS COS INC	137,321 (-3.3%)	$8,254 (-8.2%)	0.1%	$22.73	+164.3%	COM	969457100
REZI	RESIDEO TECHNOLOGIES INC	53,696 (-9.3%)	$1,886 (-26.2%)	0.0%	$12.82	+188.7%	COM	76118Y104
MSGS	MADISON SQUARE GRDN SPRT COR	23,344 (-1.6%)	$6,038 (+12.1%)	0.1%	$202.53	+12.4%	CL A	55825T103
SLV	ISHARES SILVER TR	29,395 (-3.9%)	$1,894 (+46.1%)	0.0%	$19.42	—	ISHARES	46428Q109
BGC	BGC GROUP INC	26,562 (-69.4%)	$237 (-71.1%)	0.0%	$5.43	+65.5%	CL A	088929104
ADM	ARCHER DANIELS MIDLAND CO	60,202 (-10.7%)	$3,461 (-14.0%)	0.0%	$57.05	+4.3%	COM	039483102
MRK	MERCK & CO INC	28,147 (-1.6%)	$2,963 (+23.4%)	0.0%	$73.35	+27.1%	COM	58933Y105
XOM	EXXON MOBIL CORP	38,580 (-15.4%)	$4,643 (-9.7%)	0.1%	$65.38	+76.6%	COM	30231G102
CRL	CHARLES RIV LABS INTL INC	12,580 (-2.5%)	$2,509 (+24.3%)	0.0%	$261.22	-30.6%	COM	159864107
MO	ALTRIA GROUP INC	38,607 (-5.0%)	$2,226 (-17.1%)	0.0%	$35.42	+67.6%	COM	02209S103
IRM	IRON MTN INC DEL	18,405 (-5.4%)	$1,527 (-23.0%)	0.0%	$48.13	+92.8%	COM	46284V101
ET	ENERGY TRANSFER L P	359,648 (-2.7%)	$5,931 (-6.5%)	0.1%	$13.57	—	COM UT LTD PTN	29273V100
EPD	ENTERPRISE PRODS PARTNERS L	112,063 (-12.0%)	$3,593 (-9.8%)	0.0%	$25.13	—	COM	293792107
MSFT	MICROSOFT CORP	7,208 (-3.7%)	$3,486 (-10.0%)	0.0%	$236.61	+111.6%	COM	594918104
FWONA	LIBERTY MEDIA CORP DEL	36,018 (-4.6%)	$3,219 (-10.5%)	0.0%	$56.54	—	COM LBTY ONE S A	531229771
WT	WISDOMTREE INC	198,477 (-1.3%)	$2,419 (-13.4%)	0.0%	$6.00	+101.4%	COM	97717P104
FNF	FIDELITY NATIONAL FINANCIAL	43,740 (-3.3%)	$2,388 (-12.7%)	0.0%	$38.41	+42.5%	COM SHS	31620R303
SIRI	SIRIUSXM HOLDINGS INC	29,366 (-26.6%)	$587 (-36.9%)	0.0%	$31.06	-30.8%	COMMON STOCK	829933100
LVS	LAS VEGAS SANDS CORP	39,260 (-6.1%)	$2,555 (+13.6%)	0.0%	$49.64	+23.3%	COM	517834107
JNJ	JOHNSON & JOHNSON	15,949 (-1.4%)	$3,301 (+10.0%)	0.0%	$116.83	+68.6%	COM	478160104
TD	TORONTO DOMINION BK ONT	23,317 (-2.5%)	$2,196 (+14.8%)	0.0%	$56.49	+49.5%	COM NEW	891160509
TELFY	TELEFONICA S A	203,058 (-5.3%)	$822 (-24.5%)	0.0%	$4.34	—	SPONSORED ADR	879382208
ABBV	ABBVIE INC	19,541 (-4.0%)	$4,465 (-5.3%)	0.1%	$69.38	+228.0%	COM	00287Y109
LHX	L3HARRIS TECHNOLOGIES INC	9,388 (-4.3%)	$2,756 (-8.0%)	0.0%	$198.74	+45.1%	COM	502431109
ADP	AUTOMATIC DATA PROCESSING IN	904 (-43.3%)	$233 (-50.3%)	0.0%	$279.29	-5.2%	COM	053015103
NVDA	NVIDIA CORPORATION	7,410 (-13.9%)	$1,382 (-14.0%)	0.0%	$105.21	+76.9%	COM	67066G104
PM	PHILIP MORRIS INTL INC	19,851 (-5.5%)	$3,184 (-6.6%)	0.0%	$78.87	+94.7%	COM	718172109
GOOG	ALPHABET INC	3,258 (-1.3%)	$1,022 (+27.2%)	0.0%	$105.46	+171.5%	CAP STK CL C	02079K107
CSCO	CISCO SYS INC	38,941 (-4.3%)	$3,000 (+7.7%)	0.0%	$41.62	+77.3%	COM	17275R102
GOOGL	ALPHABET INC	3,083 (-2.1%)	$965 (+26.0%)	0.0%	$120.05	+137.9%	CAP STK CL A	02079K305
RYN	RAYONIER INC	15,773 (-22.5%)	$341 (-36.8%)	0.0%	$29.71	—	COM	754907103
HON	HONEYWELL INTL INC	6,095 (-7.4%)	$1,189 (-14.2%)	0.0%	$148.14	+31.7%	COM	438516106
KMI	KINDER MORGAN INC DEL	49,923 (-9.4%)	$1,372 (-12.1%)	0.0%	$14.66	+83.5%	COM	49456B101
ALNY	ALNYLAM PHARMACEUTICALS INC	2,376 (-4.2%)	$945 (-16.5%)	0.0%	$140.20	+215.7%	COM	02043Q107
LEN	LENNAR CORP	4,689 (-10.9%)	$482 (-27.3%)	0.0%	$61.61	+95.9%	CL A	526057104
BAC	BANK AMERICA CORP	20,560 (-18.9%)	$1,131 (-13.6%)	0.0%	$31.25	+68.5%	COM	060505104
CAT	CATERPILLAR INC	4,617 (-10.9%)	$2,645 (+7.0%)	0.0%	$183.01	+203.5%	COM	149123101
ARLP	ALLIANCE RESOURCE PARTNERS L	64,141 (-1.9%)	$1,490 (-9.8%)	0.0%	$26.33	—	UT LTD PART	01877R108
BX	BLACKSTONE INC	8,251 (-1.6%)	$1,272 (-11.3%)	0.0%	$111.77	+35.5%	COM	09260D107
SU	SUNCOR ENERGY INC NEW	54,777 (-11.6%)	$2,430 (-6.2%)	0.0%	$27.42	+54.2%	COM	867224107
—	PIMCO DYNAMIC INCOME FD	50,752 (-4.9%)	$899 (-15.0%)	0.0%	$26.74	—	SHS	72201Y101
RYAM	RAYONIER ADVANCED MATLS INC	94,500 (-4.5%)	$557 (-22.1%)	0.0%	$6.50	-0.0%	COM	75508B104
CRSP	CRISPR THERAPEUTICS AG	10,239 (-4.1%)	$537 (-22.4%)	0.0%	$51.00	+17.4%	NAMEN AKT	H17182108
WPC	WP CAREY INC	22,000 (-5.4%)	$1,416 (-9.9%)	0.0%	$66.96	—	COM	92936U109
FIS	FIDELITY NATL INFORMATION SV	20,350 (-10.7%)	$1,352 (-10.0%)	0.0%	$61.37	+7.0%	COM	31620M106
ABT	ABBOTT LABS	10,051 (-3.9%)	$1,259 (-10.1%)	0.0%	$69.40	+83.4%	COM	002824100
REGN	REGENERON PHARMACEUTICALS	705 (-4.1%)	$544 (+31.7%)	0.0%	$745.67	-9.0%	COM	75886F107
GDXJ	VANECK ETF TRUST	10,621 (-2.4%)	$1,208 (+12.1%)	0.0%	$44.98	—	JUNIOR GOLD MINE	92189F791
AZN	ASTRAZENECA PLC	10,994 (-4.2%)	$1,011 (+14.8%)	0.0%	$41.43	—	SPONSORED ADR	046353108
IONS	IONIS PHARMACEUTICALS INC	11,952 (-4.2%)	$946 (+15.8%)	0.0%	$52.86	+42.5%	COM	462222100
INFL	LISTED FDS TR	98,980 (-2.3%)	$4,401 (-2.8%)	0.1%	$30.37	—	HORIZON KINETICS	53656F623
GSK	GSK PLC	24,892 (-1.9%)	$1,221 (+11.5%)	0.0%	$35.20	—	SPONSORED ADR	37733W204
NTLA	INTELLIA THERAPEUTICS INC	13,792 (-4.2%)	$124 (-50.1%)	0.0%	$23.36	-41.1%	COM	45826J105
PCH	POTLATCHDELTIC CORPORATION	23,457 (-9.2%)	$933 (-11.4%)	0.0%	$41.64	—	COM	737630103
PFE	PFIZER INC	67,671 (-4.5%)	$1,685 (-6.6%)	0.0%	$27.47	-8.9%	COM	717081103
DHR	DANAHER CORPORATION	4,416 (-1.8%)	$1,011 (+13.4%)	0.0%	$105.78	+107.6%	COM	235851102
CVX	CHEVRON CORP NEW	13,328 (-3.7%)	$2,031 (-5.5%)	0.0%	$101.77	+48.8%	COM	166764100
PTEN	PATTERSON-UTI ENERGY INC	258,608 (-21.0%)	$1,580 (-6.8%)	0.0%	$13.11	-54.5%	COM	703481101
WY	WEYERHAEUSER CO MTN BE	11,026 (-27.3%)	$261 (-30.5%)	0.0%	$30.77	-25.3%	COM NEW	962166104
GLD	SPDR GOLD TR	3,643 (-2.7%)	$1,444 (+8.5%)	0.0%	$161.21	—	GOLD SHS	78463V107
NSC	NORFOLK SOUTHN CORP	3,033 (-7.3%)	$876 (-10.9%)	0.0%	$160.97	+79.3%	COM	655844108
NEM	NEWMONT CORP	7,813 (-3.1%)	$780 (+14.7%)	0.0%	$47.69	+89.1%	COM	651639106
KRP	KIMBELL RTY PARTNERS LP	38,934 (-5.0%)	$458 (-17.1%)	0.0%	$16.22	—	UNIT	49435R102
RTX	RTX CORPORATION	12,731 (-5.0%)	$2,335 (+4.2%)	0.0%	$78.51	+120.8%	COM	75513E101
CRAI	CRA INTL INC	7,601 (-2.0%)	$1,525 (-5.7%)	0.0%	$159.59	+17.8%	COM	12618T105
VNDA	VANDA PHARMACEUTICALS INC	24,824 (-4.2%)	$219 (+69.3%)	0.0%	$6.84	-19.5%	COM	921659108
BIIB	BIOGEN INC	2,988 (-4.2%)	$526 (+20.4%)	0.0%	$302.30	-46.0%	COM	09062X103
SEE	SEALED AIR CORP NEW	33,750 (-8.9%)	$1,398 (+6.8%)	0.0%	$35.40	+9.0%	COM	81211K100
AMGN	AMGEN INC	2,498 (-3.8%)	$818 (+11.6%)	0.0%	$153.80	+105.4%	COM	031162100
MKL	MARKEL GROUP INC	2,102 (-12.7%)	$4,517 (-1.8%)	0.1%	$1015.52	+99.5%	COM	570535104
—	DOUBLELINE OPPORTUNISTIC CR	20,777 (-17.6%)	$317 (-19.4%)	0.0%	$20.21	—	COM	258623107
BSM	BLACK STONE MINERALS L P	151,238 (-4.7%)	$2,010 (-3.6%)	0.0%	$14.51	—	COM UNIT	09225M101
REPL	REPLIMUNE GROUP INC	13,792 (-4.2%)	$134 (+122.2%)	0.0%	$22.58	-62.4%	COM	76029N106
ALKS	ALKERMES PLC	22,066 (-4.2%)	$617 (-10.6%)	0.0%	$31.56	-5.1%	SHS	G01767105
—	COHEN & STEERS QUALITY INCOM	50,033 (-2.9%)	$571 (-11.1%)	0.0%	$13.43	—	COM	19247L106
—	DOUBLELINE INCOME SOLUTIONS	52,682 (-2.6%)	$594 (-10.7%)	0.0%	$18.81	—	COM	258622109
GS	GOLDMAN SACHS GROUP INC	953 (-16.4%)	$838 (-7.7%)	0.0%	$164.18	+395.4%	COM	38141G104
DIS	DISNEY WALT CO	4,748 (-10.9%)	$540 (-11.5%)	0.0%	$103.46	+5.9%	COM	254687106
EMR	EMERSON ELEC CO	16,742 (-4.0%)	$2,222 (-2.9%)	0.0%	$71.68	+84.7%	COM	291011104
IAU	ISHARES GOLD TR	8,566 (-1.4%)	$695 (+10.0%)	0.0%	$33.70	—	ISHARES NEW	464285204
ROK	ROCKWELL AUTOMATION INC	4,215 (-6.6%)	$1,640 (+3.9%)	0.0%	$183.05	+105.0%	COM	773903109
UNH	UNITEDHEALTH GROUP INC	1,595 (-5.9%)	$527 (-10.0%)	0.0%	$298.94	+12.8%	COM	91324P102
NVS	NOVARTIS AG	11,394 (-3.4%)	$1,571 (+3.8%)	0.0%	$95.51	—	SPONSORED ADR	66987V109
OXY	OCCIDENTAL PETE CORP	5,577 (-7.7%)	$229 (-19.7%)	0.0%	$57.10	-27.2%	COM	674599105
GM	GENERAL MTRS CO	4,783 (-34.5%)	$389 (-12.6%)	0.0%	$41.86	+68.2%	COM	37045V100
GDX	VANECK ETF TRUST	8,673 (-4.2%)	$744 (+7.5%)	0.0%	$32.79	—	GOLD MINERS ETF	92189F106
EBAY	EBAY INC.	7,347 (-3.1%)	$640 (-7.2%)	0.0%	$57.14	+51.2%	COM	278642103
META	META PLATFORMS INC	570 (-1.7%)	$376 (-11.7%)	0.0%	$331.42	+101.4%	CL A	30303M102
KLAC	KLA CORP	2,845 (-12.5%)	$3,457 (-1.4%)	0.0%	$258.34	+353.6%	COM NEW	482480100
EDIT	EDITAS MEDICINE INC	30,340 (-4.2%)	$62 (-43.4%)	0.0%	$8.39	-65.6%	COM	28106W103
OIH	VANECK ETF TRUST	3,415 (-4.2%)	$973 (+4.9%)	0.0%	$144.92	—	OIL SERVICES ETF	92189H607
VRT	VERTIV HOLDINGS CO	11,025 (-9.1%)	$1,786 (-2.4%)	0.0%	$84.71	+104.9%	COM CL A	92537N108
PHYS	SPROTT ASSET MANAGEMENT LP	16,262 (-2.2%)	$537 (+9.0%)	0.0%	$14.31	—	PHYSICAL GOLD TR	85207H104
LTRN	LANTERN PHARMA INC	27,582 (-4.2%)	$84 (-33.3%)	0.0%	$5.13	-27.5%	COM	51654W101
—	NUVEEN AMT FREE MUN CR INC F	10,375 (-24.8%)	$131 (-22.6%)	0.0%	$14.32	—	COM	67071L106
IBM	INTERNATIONAL BUSINESS MACHS	3,710 (-2.1%)	$1,099 (+2.8%)	0.0%	$113.06	+164.3%	COM	459200101
JPM	JPMORGAN CHASE & CO.	1,891 (-6.6%)	$609 (-4.6%)	0.0%	$136.36	+127.0%	COM	46625H100
WOOD	ISHARES TR	5,505 (-5.0%)	$396 (-6.8%)	0.0%	$64.65	—	GL TIMB FORE ETF	464288174
—	NUVEEN TAXABLE MUNICPAL INM	24,993 (-4.2%)	$395 (-6.6%)	0.0%	$20.69	—	COM	67074C103
GE	GE AEROSPACE	6,409 (-1.1%)	$1,974 (+1.3%)	0.0%	$60.71	+395.5%	COM NEW	369604301
GEV	GE VERNOVA INC	1,443 (-3.3%)	$943 (+2.7%)	0.0%	$160.99	+278.3%	COM	36828A101
BNT	BROOKFIELD WEALTH SOL LTD	30,737 (-2.4%)	$1,412 (-1.7%)	0.0%	$35.32	+29.1%	CL A EXCHANGEAB	G17434104
ETH	GRAYSCALE ETHEREUM MINI TR E	652 (-40.0%)	$18 (-57.0%)	0.0%	$34.48	—	SHS NEW	38964R203
BEAM	BEAM THERAPEUTICS INC	9,194 (-4.2%)	$255 (+9.4%)	0.0%	$19.89	+28.3%	COM	07373V105
AWK	AMERICAN WTR WKS CO INC NEW	1,671 (-3.0%)	$218 (-9.1%)	0.0%	$139.92	-4.8%	COM	030420103
—	NUVEEN MUNICIPAL CREDIT INC	25,965 (-6.2%)	$327 (-6.1%)	0.0%	$14.50	—	COM SH BEN INT	67070X101
AWR	AMER STATES WTR CO	4,244 (-5.0%)	$308 (-6.1%)	0.0%	$78.80	-6.9%	COM	029899101
AAPL	APPLE INC	6,939 (-5.6%)	$1,886 (+0.8%)	0.0%	$121.16	+121.5%	COM	037833100
CNS	COHEN & STEERS INC	3,256 (-2.8%)	$204 (-7.0%)	0.0%	$64.32	+0.7%	COM	19247A100
—	NUVEEN NEW YORK QLT MUN INC	21,550 (-4.2%)	$243 (-5.6%)	0.0%	$12.61	—	COM	67066X107
GEHC	GE HEALTHCARE TECHNOLOGIES I	2,911 (-2.6%)	$239 (+6.4%)	0.0%	$71.43	+9.1%	COMMON STOCK	36266G107
BCYC	BICYCLE THERAPEUTICS PLC	13,792 (-4.2%)	$98 (-12.4%)	0.0%	$20.41	—	SPONSORED ADS	088786108
GALT	GALECTIN THERAPEUTICS INC	51,484 (-4.2%)	$214 (-5.9%)	0.0%	$2.51	+109.6%	COM NEW	363225202
AMZN	AMAZON COM INC	1,546 (-1.3%)	$357 (+3.8%)	0.0%	$177.26	+29.1%	COM	023135106
MMM	3M CO	5,700 (-1.7%)	$913 (+1.4%)	0.0%	$95.66	+70.6%	COM	88579Y101
CMDB	COSTAMARE BULKERS HLDGS LTD	31,910 (-8.9%)	$492 (-2.3%)	0.0%	$10.03	+44.4%	COM SHS	Y2001C101
HLN	HALEON PLC	13,491 (-4.2%)	$136 (+8.0%)	0.0%	$8.10	—	SPON ADS	405552100
SBLK	STAR BULK CARRIERS CORP.	50,701 (-2.4%)	$974 (+1.0%)	0.0%	$24.05	-22.4%	SHS PAR	Y8162K204
VTI	VANGUARD INDEX FDS	930 (-4.9%)	$312 (-2.9%)	0.0%	$144.72	—	TOTAL STK MKT	922908769
ADI	ANALOG DEVICES INC	4,231 (-10.0%)	$1,148 (-0.6%)	0.0%	$101.36	+147.3%	COM	032654105
V	VISA INC	4,666 (-2.2%)	$1,636 (+0.4%)	0.0%	$162.29	+109.7%	COM CL A	92826C839
PACB	PACIFIC BIOSCIENCES CALIF IN	11,034 (-4.2%)	$21 (+40.0%)	0.0%	$6.77	-71.6%	COM	69404D108
BA	BOEING CO	1,006 (-2.6%)	$218 (-2.0%)	0.0%	$189.84	+8.3%	COM	097023105
ALLO	ALLOGENE THERAPEUTICS INC	18,388 (-4.2%)	$25 (+5.8%)	0.0%	$6.04	-78.1%	COM	019770106
VMI	VALMONT INDS INC	1,301 (-3.7%)	$523 (-0.1%)	0.0%	$184.98	+120.0%	COM	920253101

Unchanged Positions (130)

GBTC GRAYSCALE BITCOIN TRUST ETF 13.0%

Value ($000) $964,805 Shares 14,113,593 Est. Cost $9.10 Unrealized —

BTC GRAYSCALE BITCOIN MINI TR ET 1.6%

Value ($000) $116,076 Shares 2,997,060 Est. Cost $41.87 Unrealized —

MSB MESABI TR 1.6%

Value ($000) $116,627 Shares 3,027,698 Est. Cost $25.60 Unrealized —

LB LANDBRIDGE COMPANY LLC 3.7%

Value ($000) $276,439 Shares 5,642,766 Est. Cost $26.92 Unrealized +116.0%

MSTR STRATEGY INC 0.3%

Value ($000) $21,178 Shares 139,377 Est. Cost $131.66 Unrealized +74.9%

HKHC HORIZON KINETICS HLDG CORP 0.3%

Value ($000) $25,270 Shares 1,075,313 Est. Cost $38.69 Unrealized -25.0%

GLXY GALAXY DIGITAL INC. 0.4%

Value ($000) $27,940 Shares 1,249,554 Est. Cost $20.30 Unrealized +52.6%

OR OR ROYALTIES INC. 0.9%

Value ($000) $64,234 Shares 1,815,024 Est. Cost $24.09 Unrealized +45.4%

ICE INTERCONTINENTAL EXCHANGE IN 1.8%

Value ($000) $134,551 Shares 830,766 Est. Cost $105.01 Unrealized +48.8%

JOE ST JOE CO 0.4%

Value ($000) $32,941 Shares 554,837 Est. Cost $46.99 Unrealized +19.2%

WTM WHITE MTNS INS GROUP LTD 0.4%

Value ($000) $27,266 Shares 13,121 Est. Cost $1797.42 Unrealized +8.8%

CCJ CAMECO CORP 0.8%

Value ($000) $61,673 Shares 674,096 Est. Cost $35.75 Unrealized +151.6%

SII SPROTT INC 0.3%

Value ($000) $21,016 Shares 214,626 Est. Cost $40.34 Unrealized +119.8%

PAG PENSKE AUTOMOTIVE GRP INC 0.4%

Value ($000) $26,889 Shares 169,874 Est. Cost $37.17 Unrealized +342.3%

BG BUNGE GLOBAL SA 0.4%

Value ($000) $31,088 Shares 348,994 Est. Cost $94.28 Unrealized -2.6%

MRSH MARSH & MCLENNAN COS INC 0.4%

Value ($000) $29,068 Shares 156,685 Est. Cost $155.54 Unrealized +19.9%

CBOE CBOE GLOBAL MKTS INC 1.4%

Value ($000) $102,508 Shares 408,398 Est. Cost $90.07 Unrealized +176.2%

IPAR INTERPARFUMS INC 0.2%

Value ($000) $11,754 Shares 138,558 Est. Cost $68.67 Unrealized +28.2%

CCL CARNIVAL CORP 0.4%

Value ($000) $29,244 Shares 957,548 Est. Cost $9.31 Unrealized +199.5%

SBR SABINE RTY TR 0.1%

Value ($000) $7,508 Shares 109,487 Est. Cost $65.60 Unrealized —

RPRX ROYALTY PHARMA PLC 0.2%

Value ($000) $13,654 Shares 353,361 Est. Cost $35.71 Unrealized +6.8%

BAM BROOKFIELD ASSET MANAGMT LTD 0.1%

Value ($000) $9,979 Shares 190,473 Est. Cost $27.10 Unrealized +97.3%

APYX APYX MEDICAL CORPORATION 0.0%

Value ($000) $2,153 Shares 615,000 Est. Cost $7.73 Unrealized -54.9%

GDLC GRAYSCALE COINDESK CRYPTO 0.0%

Value ($000) $1,695 Shares 41,029 Est. Cost $3.83 Unrealized —

MTA METALLA RTY & STREAMING LTD 0.0%

Value ($000) $3,146 Shares 404,397 Est. Cost $4.93 Unrealized +46.0%

FTLF FITLIFE BRANDS INC 0.0%

Value ($000) $2,513 Shares 154,456 Est. Cost $14.87 Unrealized +23.6%

OSK OSHKOSH CORP 0.2%

Value ($000) $14,597 Shares 116,193 Est. Cost $64.21 Unrealized +99.2%

CME CME GROUP INC 1.0%

Value ($000) $75,264 Shares 275,611 Est. Cost $218.85 Unrealized +23.7%

VNOM VIPER ENERGY INC 0.9%

Value ($000) $66,247 Shares 1,714,904 Est. Cost $38.10 Unrealized -0.6%

TRC TEJON RANCH CO 0.4%

Value ($000) $30,161 Shares 1,912,573 Est. Cost $17.21 Unrealized -7.3%

BMY BRISTOL-MYERS SQUIBB CO 0.0%

Value ($000) $2,433 Shares 45,110 Est. Cost $40.89 Unrealized +16.2%

ZCSH GRAYSCALE ZCASH 0.0%

Value ($000) $477 Shares 15,173 Est. Cost $1.76 Unrealized —

MSGE MADISON SQUARE GARDEN ENTMT 0.0%

Value ($000) $1,928 Shares 35,774 Est. Cost $34.54 Unrealized +39.3%

RIO RIO TINTO PLC 0.0%

Value ($000) $1,306 Shares 16,316 Est. Cost $64.92 Unrealized —

BAH BOOZ ALLEN HAMILTON HLDG COR 0.0%

Value ($000) $1,175 Shares 13,930 Est. Cost $146.98 Unrealized -39.8%

TPH TRI POINTE HOMES INC 0.0%

Value ($000) $2,705 Shares 85,962 Est. Cost $21.10 Unrealized +54.1%

ETCG GRAYSCALE ETHEREUM CLASSIC 0.0%

Value ($000) $462 Shares 71,191 Est. Cost $5.22 Unrealized —

VXX BARCLAYS BANK PLC 0.0%

Value ($000) $758 Shares 10,100 Est. Cost — Unrealized —

BCHG GRAYSCALE BITCOIN CASH 0.1%

Value ($000) $6,423 Shares 1,486,851 Est. Cost $2.93 Unrealized —

VRSK VERISK ANALYTICS INC 0.0%

Value ($000) $1,566 Shares 7,000 Est. Cost $180.02 Unrealized +25.1%

SEG SEAPORT ENTMT GROUP INC 0.0%

Value ($000) $1,038 Shares 52,522 Est. Cost $28.41 Unrealized -21.1%

MPC MARATHON PETE CORP 0.0%

Value ($000) $857 Shares 5,270 Est. Cost $27.17 Unrealized +586.1%

NTR NUTRIEN LTD 0.0%

Value ($000) $3,202 Shares 51,872 Est. Cost $61.63 Unrealized -4.5%

FBTC FIDELITY WISE ORIGIN BITCOIN 0.0%

Value ($000) $433 Shares 5,681 Est. Cost $52.57 Unrealized —

B BARRICK MNG CORP 0.0%

Value ($000) $459 Shares 10,547 Est. Cost $19.29 Unrealized +94.0%

URI UNITED RENTALS INC 0.0%

Value ($000) $612 Shares 756 Est. Cost $674.26 Unrealized +28.6%

C CITIGROUP INC 0.0%

Value ($000) $827 Shares 7,089 Est. Cost $55.41 Unrealized +87.0%

SVXY PROSHARES TR II 0.0%

Value ($000) $1,293 Shares 23,348 Est. Cost $44.46 Unrealized —

BATRK ATLANTA BRAVES HLDGS INC 0.0%

Value ($000) $1,821 Shares 46,171 Est. Cost $37.85 Unrealized +4.4%

AJG GALLAGHER ARTHUR J & CO 0.0%

Value ($000) $505 Shares 1,953 Est. Cost $92.65 Unrealized +185.2%

SAN BANCO SANTANDER SA 0.0%

Value ($000) $763 Shares 65,060 Est. Cost $4.93 Unrealized —

BATRA ATLANTA BRAVES HLDGS INC 0.0%

Value ($000) $1,078 Shares 25,368 Est. Cost $42.37 Unrealized +1.4%

BK BANK NEW YORK MELLON CORP 0.0%

Value ($000) $1,377 Shares 11,864 Est. Cost $36.88 Unrealized +199.6%

MDLZ MONDELEZ INTL INC 0.0%

Value ($000) $444 Shares 8,244 Est. Cost $41.02 Unrealized +39.1%

— BLACKROCK FLOATING RATE INCO 0.0%

Value ($000) $698 Shares 59,291 Est. Cost $12.63 Unrealized —

NVO NOVO-NORDISK A S 0.0%

Value ($000) $781 Shares 15,350 Est. Cost $72.39 Unrealized —

OPLN OPENLANE INC 0.0%

Value ($000) $2,131 Shares 71,548 Est. Cost $13.77 Unrealized +96.4%

DORM DORMAN PRODS INC 0.0%

Value ($000) $222 Shares 1,800 Est. Cost $86.75 Unrealized +55.6%

ERII ENERGY RECOVERY INC 0.0%

Value ($000) $384 Shares 28,440 Est. Cost $13.55 Unrealized +11.9%

ETHE GRAYSCALE ETHEREUM TRUST ETF 0.0%

Value ($000) $131 Shares 5,376 Est. Cost $5.75 Unrealized —

DGX QUEST DIAGNOSTICS INC 0.0%

Value ($000) $521 Shares 3,000 Est. Cost $89.08 Unrealized +104.4%

TTI TETRA TECHNOLOGIES INC DEL 0.0%

Value ($000) $127 Shares 13,600 Est. Cost $4.20 Unrealized +83.9%

— NUVEEN AMT FREE QLTY MUN INC 0.0%

Value ($000) $3,434 Shares 295,249 Est. Cost $13.21 Unrealized —

VOO VANGUARD INDEX FDS 0.0%

Value ($000) $1,846 Shares 2,944 Est. Cost $282.85 Unrealized —

— NUVEEN FLOATING RATE INCOME 0.0%

Value ($000) $934 Shares 119,308 Est. Cost $8.31 Unrealized —

— NUVEEN QUALITY MUNCP INCOME 0.0%

Value ($000) $1,947 Shares 161,977 Est. Cost $12.98 Unrealized —

TMO THERMO FISHER SCIENTIFIC INC 0.0%

Value ($000) $254 Shares 438 Est. Cost $464.78 Unrealized +21.6%

CMS CMS ENERGY CORP 0.0%

Value ($000) $853 Shares 12,197 Est. Cost $43.99 Unrealized +64.8%

GPC GENUINE PARTS CO 0.0%

Value ($000) $269 Shares 2,190 Est. Cost $86.25 Unrealized +49.2%

BWXT BWX TECHNOLOGIES INC 0.0%

Value ($000) $458 Shares 2,647 Est. Cost $63.73 Unrealized +194.1%

QCOM QUALCOMM INC 0.0%

Value ($000) $1,066 Shares 6,234 Est. Cost $126.80 Unrealized +34.7%

L LOEWS CORP 0.0%

Value ($000) $575 Shares 5,460 Est. Cost $45.83 Unrealized +125.2%

CTAS CINTAS CORP 0.0%

Value ($000) $281 Shares 1,495 Est. Cost $214.11 Unrealized -12.1%

AMT AMERICAN TOWER CORP NEW 0.0%

Value ($000) $246 Shares 1,400 Est. Cost $154.83 Unrealized +16.4%

— NUVEEN NEW YORK AMT QLT MUNI 0.0%

Value ($000) $1,365 Shares 135,256 Est. Cost $11.40 Unrealized —

— BLACKROCK MUNIYIELD QUALITY 0.0%

Value ($000) $1,110 Shares 102,099 Est. Cost $11.67 Unrealized —

SAIC SCIENCE APPLICATIONS INTL CO 0.1%

Value ($000) $5,301 Shares 52,662 Est. Cost $75.30 Unrealized +26.8%

SPY SPDR S&P 500 ETF TR 0.0%

Value ($000) $882 Shares 1,294 Est. Cost $280.38 Unrealized —

MOV MOVADO GROUP INC 0.0%

Value ($000) $247 Shares 12,000 Est. Cost $31.94 Unrealized -38.9%

AVGO BROADCOM INC 0.0%

Value ($000) $418 Shares 1,207 Est. Cost $215.92 Unrealized +65.3%

TW TRADEWEB MKTS INC 0.0%

Value ($000) $568 Shares 5,283 Est. Cost $102.40 Unrealized +4.8%

— PIMCO INCOME STRATEGY FD II 0.0%

Value ($000) $1,436 Shares 191,463 Est. Cost $9.89 Unrealized —

NOC NORTHROP GRUMMAN CORP 0.0%

Value ($000) $205 Shares 360 Est. Cost $563.27 Unrealized +2.8%

— PCM FD INC 0.0%

Value ($000) $151 Shares 24,532 Est. Cost $9.91 Unrealized —

MKTX MARKETAXESS HLDGS INC 0.0%

Value ($000) $353 Shares 1,950 Est. Cost $224.80 Unrealized -24.6%

MA MASTERCARD INCORPORATED 0.2%

Value ($000) $11,177 Shares 19,579 Est. Cost $218.53 Unrealized +155.8%

— PIMCO INCOME STRATEGY FD 0.0%

Value ($000) $786 Shares 93,252 Est. Cost $10.69 Unrealized —

LOW LOWES COS INC 0.0%

Value ($000) $258 Shares 1,068 Est. Cost $220.63 Unrealized +8.7%

— BLACKROCK FLOATING RATE INC 0.0%

Value ($000) $144 Shares 12,678 Est. Cost $12.48 Unrealized —

— BLACKROCK CR ALLOCATION INCO 0.0%

Value ($000) $439 Shares 40,534 Est. Cost $12.18 Unrealized —

— BLACKROCK MUNIVEST FD II INC 0.0%

Value ($000) $518 Shares 47,926 Est. Cost $10.55 Unrealized —

BITF BITFARMS LTD 0.0%

Value ($000) $43 Shares 18,300 Est. Cost $6.17 Unrealized -44.6%

— NEUBERGER MUN FD INC 0.0%

Value ($000) $419 Shares 41,396 Est. Cost $12.86 Unrealized —

— BLACKROCK MUNIVEST FD INC 0.0%

Value ($000) $645 Shares 93,068 Est. Cost $6.58 Unrealized —

PEP PEPSICO INC 0.0%

Value ($000) $293 Shares 2,040 Est. Cost $110.05 Unrealized +32.6%

— INVESCO TR INVT GRADE NEW YO 0.0%

Value ($000) $141 Shares 12,274 Est. Cost $10.46 Unrealized —

— EATON VANCE SR FLTNG RTE TR 0.0%

Value ($000) $223 Shares 20,001 Est. Cost $12.93 Unrealized —

— BLACKROCK INVT QUALITY MUN T 0.0%

Value ($000) $472 Shares 42,157 Est. Cost $11.15 Unrealized —

MCD MCDONALDS CORP 0.0%

Value ($000) $1,020 Shares 3,339 Est. Cost $154.83 Unrealized +97.1%

KKR KKR & CO INC 0.0%

Value ($000) $305 Shares 2,394 Est. Cost $40.65 Unrealized +205.7%

— PIMCO MUN INCOME FD II 0.0%

Value ($000) $113 Shares 15,050 Est. Cost $12.51 Unrealized —

— ROYCE MICRO-CAP TR INC 0.0%

Value ($000) $1,400 Shares 134,227 Est. Cost $8.33 Unrealized —

EVLV EVOLV TECHNOLOGIES HLDNGS IN 0.0%

Value ($000) $97 Shares 13,500 Est. Cost $3.31 Unrealized +114.6%

— EATON VANCE SR INCOME TR 0.0%

Value ($000) $115 Shares 21,730 Est. Cost $6.16 Unrealized —

— BROOKFIELD REAL ASSETS INCOM 0.0%

Value ($000) $139 Shares 10,755 Est. Cost $19.13 Unrealized —

AFL AFLAC INC 0.0%

Value ($000) $331 Shares 3,000 Est. Cost $70.52 Unrealized +55.8%

PCYO PURE CYCLE CORP 0.0%

Value ($000) $555 Shares 50,531 Est. Cost $10.43 Unrealized +7.2%

— EATON VANCE MUN BD FD 0.0%

Value ($000) $172 Shares 17,692 Est. Cost $12.06 Unrealized —

CNP CENTERPOINT ENERGY INC 0.0%

Value ($000) $296 Shares 7,733 Est. Cost $25.13 Unrealized +54.6%

— EATON VANCE LIMITED DURATION 0.0%

Value ($000) $123 Shares 12,417 Est. Cost $12.22 Unrealized —

CL COLGATE PALMOLIVE CO 0.0%

Value ($000) $235 Shares 2,978 Est. Cost $63.83 Unrealized +22.7%

BP BP PLC 0.0%

Value ($000) $329 Shares 9,466 Est. Cost $32.40 Unrealized —

— INVESCO QUALITY MUN INCOME T 0.0%

Value ($000) $220 Shares 22,115 Est. Cost $12.12 Unrealized —

— FEDERATED HERMES PREM MUNI I 0.0%

Value ($000) $380 Shares 34,170 Est. Cost $10.82 Unrealized —

NVIR LISTED FDS TR 0.0%

Value ($000) $282 Shares 8,635 Est. Cost $28.60 Unrealized —

— BLACKROCK MUNIHOLDINGS QUALI 0.0%

Value ($000) $606 Shares 60,430 Est. Cost $12.30 Unrealized —

— NUVEEN PFD & INCOME OPPORTUN 0.0%

Value ($000) $133 Shares 16,426 Est. Cost $7.30 Unrealized —

LADR LADDER CAP CORP 0.0%

Value ($000) $198 Shares 18,000 Est. Cost $11.16 Unrealized —

CQP CHENIERE ENERGY PARTNERS LP 0.0%

Value ($000) $214 Shares 4,000 Est. Cost $53.12 Unrealized —

— NUVEEN SELECT MAT MUN FD 0.0%

Value ($000) $200 Shares 21,500 Est. Cost $9.95 Unrealized —

— NUVEEN MUN VALUE FD INC 0.0%

Value ($000) $105 Shares 11,550 Est. Cost $9.95 Unrealized —

MANA GRAYSCALE DECENTRALAND 0.0%

Value ($000) $1 Shares 691 Est. Cost $1.95 Unrealized —

— BLACKROCK MUNIYIELD QUALITY 0.0%

Value ($000) $429 Shares 42,650 Est. Cost $10.09 Unrealized —

BSV VANGUARD BD INDEX FDS 0.0%

Value ($000) $589 Shares 7,478 Est. Cost $76.49 Unrealized —

GBAT GRAYSCALE BASIC ATTENTION 0.0%

Value ($000) $3 Shares 2,089 Est. Cost $0.70 Unrealized —

BRK/A BERKSHIRE HATHAWAY INC DEL 0.0%

Value ($000) $755 Shares 1 Est. Cost $302764.90 Unrealized +146.5%

— MFS HIGH INCOME MUN TR 0.0%

Value ($000) $99 Shares 26,714 Est. Cost $4.86 Unrealized —

— BLACKROCK MUNIHOLDINGS FD IN 0.0%

Value ($000) $197 Shares 16,797 Est. Cost $15.55 Unrealized —

FHI FEDERATED HERMES INC 0.0%

Value ($000) $451 Shares 8,656 Est. Cost $34.52 Unrealized +45.7%

VIXY PROSHARES TR II 0.0%

Value ($000) $336 Shares 6,100 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
GBTC	GRAYSCALE BITCOIN TRUST ETF	14,113,593	$964,805	13.0%	$9.10	—	SHS REP COM UT	389637109
BTC	GRAYSCALE BITCOIN MINI TR ET	2,997,060	$116,076	1.6%	$41.87	—	SHS NEW	389930207
MSB	MESABI TR	3,027,698	$116,627	1.6%	$25.60	—	CTF BEN INT	590672101
LB	LANDBRIDGE COMPANY LLC	5,642,766	$276,439	3.7%	$26.92	+116.0%	CL A	514952100
MSTR	STRATEGY INC	139,377	$21,178	0.3%	$131.66	+74.9%	CL A NEW	594972408
HKHC	HORIZON KINETICS HLDG CORP	1,075,313	$25,270	0.3%	$38.69	-25.0%	COM	439913104
GLXY	GALAXY DIGITAL INC.	1,249,554	$27,940	0.4%	$20.30	+52.6%	CL A	36317J209
OR	OR ROYALTIES INC.	1,815,024	$64,234	0.9%	$24.09	+45.4%	COM SHS	68390D106
ICE	INTERCONTINENTAL EXCHANGE IN	830,766	$134,551	1.8%	$105.01	+48.8%	COM	45866F104
JOE	ST JOE CO	554,837	$32,941	0.4%	$46.99	+19.2%	COM	790148100
WTM	WHITE MTNS INS GROUP LTD	13,121	$27,266	0.4%	$1797.42	+8.8%	COM	G9618E107
CCJ	CAMECO CORP	674,096	$61,673	0.8%	$35.75	+151.6%	COM	13321L108
SII	SPROTT INC	214,626	$21,016	0.3%	$40.34	+119.8%	COM NEW	852066208
PAG	PENSKE AUTOMOTIVE GRP INC	169,874	$26,889	0.4%	$37.17	+342.3%	COM	70959W103
BG	BUNGE GLOBAL SA	348,994	$31,088	0.4%	$94.28	-2.6%	COM SHS	H11356104
MRSH	MARSH & MCLENNAN COS INC	156,685	$29,068	0.4%	$155.54	+19.9%	COM	571748102
CBOE	CBOE GLOBAL MKTS INC	408,398	$102,508	1.4%	$90.07	+176.2%	COM	12503M108
IPAR	INTERPARFUMS INC	138,558	$11,754	0.2%	$68.67	+28.2%	COM	458334109
CCL	CARNIVAL CORP	957,548	$29,244	0.4%	$9.31	+199.5%	UNIT 99/99/9999	143658300
SBR	SABINE RTY TR	109,487	$7,508	0.1%	$65.60	—	UNIT BEN INT	785688102
RPRX	ROYALTY PHARMA PLC	353,361	$13,654	0.2%	$35.71	+6.8%	SHS CLASS A	G7709Q104
BAM	BROOKFIELD ASSET MANAGMT LTD	190,473	$9,979	0.1%	$27.10	+97.3%	CL A LMT VTG SHS	113004105
APYX	APYX MEDICAL CORPORATION	615,000	$2,153	0.0%	$7.73	-54.9%	COM	03837C106
GDLC	GRAYSCALE COINDESK CRYPTO	41,029	$1,695	0.0%	$3.83	—	USD SHS	G40705108
MTA	METALLA RTY & STREAMING LTD	404,397	$3,146	0.0%	$4.93	+46.0%	COM NEW	59124U605
FTLF	FITLIFE BRANDS INC	154,456	$2,513	0.0%	$14.87	+23.6%	COM NEW	33817P405
OSK	OSHKOSH CORP	116,193	$14,597	0.2%	$64.21	+99.2%	COM	688239201
CME	CME GROUP INC	275,611	$75,264	1.0%	$218.85	+23.7%	COM	12572Q105
VNOM	VIPER ENERGY INC	1,714,904	$66,247	0.9%	$38.10	-0.6%	CL A	64361Q101
TRC	TEJON RANCH CO	1,912,573	$30,161	0.4%	$17.21	-7.3%	COM	879080109
BMY	BRISTOL-MYERS SQUIBB CO	45,110	$2,433	0.0%	$40.89	+16.2%	COM	110122108
ZCSH	GRAYSCALE ZCASH	15,173	$477	0.0%	$1.76	—	TR ZEC COM	38964G108
MSGE	MADISON SQUARE GARDEN ENTMT	35,774	$1,928	0.0%	$34.54	+39.3%	COM CL A	558256103
RIO	RIO TINTO PLC	16,316	$1,306	0.0%	$64.92	—	SPONSORED ADR	767204100
BAH	BOOZ ALLEN HAMILTON HLDG COR	13,930	$1,175	0.0%	$146.98	-39.8%	CL A	099502106
TPH	TRI POINTE HOMES INC	85,962	$2,705	0.0%	$21.10	+54.1%	COM	87265H109
ETCG	GRAYSCALE ETHEREUM CLASSIC	71,191	$462	0.0%	$5.22	—	TRUST	38963Q107
VXX	BARCLAYS BANK PLC	10,100	$758	0.0%	—	—	CALL	06748M196
BCHG	GRAYSCALE BITCOIN CASH	1,486,851	$6,423	0.1%	$2.93	—	TRUST BCH	38963P109
VRSK	VERISK ANALYTICS INC	7,000	$1,566	0.0%	$180.02	+25.1%	COM	92345Y106
SEG	SEAPORT ENTMT GROUP INC	52,522	$1,038	0.0%	$28.41	-21.1%	COMMON STOCK	812215200
MPC	MARATHON PETE CORP	5,270	$857	0.0%	$27.17	+586.1%	COM	56585A102
NTR	NUTRIEN LTD	51,872	$3,202	0.0%	$61.63	-4.5%	COM	67077M108
FBTC	FIDELITY WISE ORIGIN BITCOIN	5,681	$433	0.0%	$52.57	—	SHS	315948109
B	BARRICK MNG CORP	10,547	$459	0.0%	$19.29	+94.0%	COM SHS	06849F108
URI	UNITED RENTALS INC	756	$612	0.0%	$674.26	+28.6%	COM	911363109
C	CITIGROUP INC	7,089	$827	0.0%	$55.41	+87.0%	COM NEW	172967424
SVXY	PROSHARES TR II	23,348	$1,293	0.0%	$44.46	—	SHT VIX ST TRM	74347W130
BATRK	ATLANTA BRAVES HLDGS INC	46,171	$1,821	0.0%	$37.85	+4.4%	COM SER C	047726302
AJG	GALLAGHER ARTHUR J & CO	1,953	$505	0.0%	$92.65	+185.2%	COM	363576109
SAN	BANCO SANTANDER SA	65,060	$763	0.0%	$4.93	—	ADR	05964H105
BATRA	ATLANTA BRAVES HLDGS INC	25,368	$1,078	0.0%	$42.37	+1.4%	COM SER A	047726104
BK	BANK NEW YORK MELLON CORP	11,864	$1,377	0.0%	$36.88	+199.6%	COM	064058100
MDLZ	MONDELEZ INTL INC	8,244	$444	0.0%	$41.02	+39.1%	CL A	609207105
—	BLACKROCK FLOATING RATE INCO	59,291	$698	0.0%	$12.63	—	COM	09255X100
NVO	NOVO-NORDISK A S	15,350	$781	0.0%	$72.39	—	ADR	670100205
OPLN	OPENLANE INC	71,548	$2,131	0.0%	$13.77	+96.4%	COM	48238T109
DORM	DORMAN PRODS INC	1,800	$222	0.0%	$86.75	+55.6%	COM	258278100
ERII	ENERGY RECOVERY INC	28,440	$384	0.0%	$13.55	+11.9%	COM	29270J100
ETHE	GRAYSCALE ETHEREUM TRUST ETF	5,376	$131	0.0%	$5.75	—	SHS	389638107
DGX	QUEST DIAGNOSTICS INC	3,000	$521	0.0%	$89.08	+104.4%	COM	74834L100
TTI	TETRA TECHNOLOGIES INC DEL	13,600	$127	0.0%	$4.20	+83.9%	COM	88162F105
—	NUVEEN AMT FREE QLTY MUN INC	295,249	$3,434	0.0%	$13.21	—	COM	670657105
VOO	VANGUARD INDEX FDS	2,944	$1,846	0.0%	$282.85	—	S&P 500 ETF SHS	922908363
—	NUVEEN FLOATING RATE INCOME	119,308	$934	0.0%	$8.31	—	COM	67072T108
—	NUVEEN QUALITY MUNCP INCOME	161,977	$1,947	0.0%	$12.98	—	COM	67066V101
TMO	THERMO FISHER SCIENTIFIC INC	438	$254	0.0%	$464.78	+21.6%	COM	883556102
CMS	CMS ENERGY CORP	12,197	$853	0.0%	$43.99	+64.8%	COM	125896100
GPC	GENUINE PARTS CO	2,190	$269	0.0%	$86.25	+49.2%	COM	372460105
BWXT	BWX TECHNOLOGIES INC	2,647	$458	0.0%	$63.73	+194.1%	COM	05605H100
QCOM	QUALCOMM INC	6,234	$1,066	0.0%	$126.80	+34.7%	COM	747525103
L	LOEWS CORP	5,460	$575	0.0%	$45.83	+125.2%	COM	540424108
CTAS	CINTAS CORP	1,495	$281	0.0%	$214.11	-12.1%	COM	172908105
AMT	AMERICAN TOWER CORP NEW	1,400	$246	0.0%	$154.83	+16.4%	COM	03027X100
—	NUVEEN NEW YORK AMT QLT MUNI	135,256	$1,365	0.0%	$11.40	—	COM	670656107
—	BLACKROCK MUNIYIELD QUALITY	102,099	$1,110	0.0%	$11.67	—	COM	09254E103
SAIC	SCIENCE APPLICATIONS INTL CO	52,662	$5,301	0.1%	$75.30	+26.8%	COM	808625107
SPY	SPDR S&P 500 ETF TR	1,294	$882	0.0%	$280.38	—	TR UNIT	78462F103
MOV	MOVADO GROUP INC	12,000	$247	0.0%	$31.94	-38.9%	COM	624580106
AVGO	BROADCOM INC	1,207	$418	0.0%	$215.92	+65.3%	COM	11135F101
TW	TRADEWEB MKTS INC	5,283	$568	0.0%	$102.40	+4.8%	CL A	892672106
—	PIMCO INCOME STRATEGY FD II	191,463	$1,436	0.0%	$9.89	—	COM	72201J104
NOC	NORTHROP GRUMMAN CORP	360	$205	0.0%	$563.27	+2.8%	COM	666807102
—	PCM FD INC	24,532	$151	0.0%	$9.91	—	COM	69323T101
MKTX	MARKETAXESS HLDGS INC	1,950	$353	0.0%	$224.80	-24.6%	COM	57060D108
MA	MASTERCARD INCORPORATED	19,579	$11,177	0.2%	$218.53	+155.8%	CL A	57636Q104
—	PIMCO INCOME STRATEGY FD	93,252	$786	0.0%	$10.69	—	COM	72201H108
LOW	LOWES COS INC	1,068	$258	0.0%	$220.63	+8.7%	COM	548661107
—	BLACKROCK FLOATING RATE INC	12,678	$144	0.0%	$12.48	—	COM	091941104
—	BLACKROCK CR ALLOCATION INCO	40,534	$439	0.0%	$12.18	—	COM	092508100
—	BLACKROCK MUNIVEST FD II INC	47,926	$518	0.0%	$10.55	—	COM	09253T101
BITF	BITFARMS LTD	18,300	$43	0.0%	$6.17	-44.6%	COM	09173B107
—	NEUBERGER MUN FD INC	41,396	$419	0.0%	$12.86	—	COM	64124P101
—	BLACKROCK MUNIVEST FD INC	93,068	$645	0.0%	$6.58	—	COM	09253R105
PEP	PEPSICO INC	2,040	$293	0.0%	$110.05	+32.6%	COM	713448108
—	INVESCO TR INVT GRADE NEW YO	12,274	$141	0.0%	$10.46	—	COM	46131T101
—	EATON VANCE SR FLTNG RTE TR	20,001	$223	0.0%	$12.93	—	COM	27828Q105
—	BLACKROCK INVT QUALITY MUN T	42,157	$472	0.0%	$11.15	—	COM	09247D105
MCD	MCDONALDS CORP	3,339	$1,020	0.0%	$154.83	+97.1%	COM	580135101
KKR	KKR & CO INC	2,394	$305	0.0%	$40.65	+205.7%	COM	48251W104
—	PIMCO MUN INCOME FD II	15,050	$113	0.0%	$12.51	—	COM	72200W106
—	ROYCE MICRO-CAP TR INC	134,227	$1,400	0.0%	$8.33	—	COM	780915104
EVLV	EVOLV TECHNOLOGIES HLDNGS IN	13,500	$97	0.0%	$3.31	+114.6%	COM CL A	30049H102
—	EATON VANCE SR INCOME TR	21,730	$115	0.0%	$6.16	—	SH BEN INT	27826S103
—	BROOKFIELD REAL ASSETS INCOM	10,755	$139	0.0%	$19.13	—	SHS BEN INT	112830104
AFL	AFLAC INC	3,000	$331	0.0%	$70.52	+55.8%	COM	001055102
PCYO	PURE CYCLE CORP	50,531	$555	0.0%	$10.43	+7.2%	COM NEW	746228303
—	EATON VANCE MUN BD FD	17,692	$172	0.0%	$12.06	—	COM	27827X101
CNP	CENTERPOINT ENERGY INC	7,733	$296	0.0%	$25.13	+54.6%	COM	15189T107
—	EATON VANCE LIMITED DURATION	12,417	$123	0.0%	$12.22	—	COM	27828H105
CL	COLGATE PALMOLIVE CO	2,978	$235	0.0%	$63.83	+22.7%	COM	194162103
BP	BP PLC	9,466	$329	0.0%	$32.40	—	SPONSORED ADR	055622104
—	INVESCO QUALITY MUN INCOME T	22,115	$220	0.0%	$12.12	—	COM	46133G107
—	FEDERATED HERMES PREM MUNI I	34,170	$380	0.0%	$10.82	—	COM	31423P108
NVIR	LISTED FDS TR	8,635	$282	0.0%	$28.60	—	HORIZON KINETICS	53656G514
—	BLACKROCK MUNIHOLDINGS QUALI	60,430	$606	0.0%	$12.30	—	COM	09254C107
—	NUVEEN PFD & INCOME OPPORTUN	16,426	$133	0.0%	$7.30	—	COM	67073B106
LADR	LADDER CAP CORP	18,000	$198	0.0%	$11.16	—	CL A	505743104
CQP	CHENIERE ENERGY PARTNERS LP	4,000	$214	0.0%	$53.12	—	COM UNIT	16411Q101
—	NUVEEN SELECT MAT MUN FD	21,500	$200	0.0%	$9.95	—	SH BEN INT	67061T101
—	NUVEEN MUN VALUE FD INC	11,550	$105	0.0%	$9.95	—	COM	670928100
MANA	GRAYSCALE DECENTRALAND	691	$1	0.0%	$1.95	—	TRUST	38964P108
—	BLACKROCK MUNIYIELD QUALITY	42,650	$429	0.0%	$10.09	—	COM	09254G108
BSV	VANGUARD BD INDEX FDS	7,478	$589	0.0%	$76.49	—	SHORT TRM BOND	921937827
GBAT	GRAYSCALE BASIC ATTENTION	2,089	$3	0.0%	$0.70	—	TOKEN TRUST	38963U108
BRK/A	BERKSHIRE HATHAWAY INC DEL	1	$755	0.0%	$302764.90	+146.5%	CL A	084670108
—	MFS HIGH INCOME MUN TR	26,714	$99	0.0%	$4.86	—	SH BEN INT	59318D104
—	BLACKROCK MUNIHOLDINGS FD IN	16,797	$197	0.0%	$15.55	—	COM	09253N104
FHI	FEDERATED HERMES INC	8,656	$451	0.0%	$34.52	+45.7%	CL B	314211103
VIXY	PROSHARES TR II	6,100	$336	0.0%	—	—	CALL	74347Y730