The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
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COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ASSOCIATED CAP GROUP INC CL A 045528106   2,060,730 63,000 SH   SOLE   0 0 63,000
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702   3,285,523 7,813 SH   SOLE   0 0 7,813
CACI INTL INC CL A 127190304   6,527,241 17,230 SH   SOLE   0 0 17,230
CARNIVAL CORP UNIT 99/99/9999 143658300   3,470,616 212,400 SH   SOLE   0 0 212,400
CBOE GLOBAL MKTS INC COM 12503M108   1,117,079 6,080 SH   SOLE   0 0 6,080
CIVEO CORP CDA COM NEW 17878Y207   6,494,114 241,866 SH   SOLE   0 0 241,866
CME GROUP INC COM 12572Q105   1,118,217 5,194 SH   SOLE   0 0 5,194
DISNEY WALT CO COM 254687106   293,664 2,400 SH   SOLE   0 0 2,400
EAGLE MATLS INC COM 26969P108   1,551,693 5,710 SH   SOLE   0 0 5,710
FIDELITY WISE ORIGIN BITCOIN SHS 315948109   5,283,106 85,129 SH   SOLE   0 0 85,129
FRANCO NEV CORP COM 351858105   3,861,063 32,402 SH   SOLE   0 0 32,402
GRAYSCALE BITCOIN TR BTC SHS REP COM UT 389637109   25,250,628 399,725 SH   SOLE   90,767 0 308,958
INTERCONTINENTAL EXCHANGE IN COM 45866F104   1,058,211 7,700 SH   SOLE   0 0 7,700
INVESCO EXCHANGE TRADED FD T S&P500 EQL WGT 46137V357   275,396 1,626 SH   SOLE   0 0 1,626
ISHARES TR MSCI ACWI EX US 464288240   413,613 7,747 SH   SOLE   0 0 7,747
LIBERTY MEDIA CORP DEL COM LBTY SRM S C 531229789   270,732 4,127 SH   SOLE   0 0 4,127
MESABI TR CTF BEN INT 590672101   5,059,314 285,837 SH   SOLE   0 0 285,837
PERMIAN BASIN RTY TR UNIT BEN INT 714236106   3,054,614 252,447 SH   SOLE   0 0 252,447
RENN FD INC COM 759720105   44,240 28,000 SH   SOLE   0 0 28,000
RLI CORP COM 749607107   816,585 5,500 SH   SOLE   0 0 5,500
RUMBLE INC COM CL A 78137L105   173,720 21,500 SH   SOLE   0 0 21,500
SANDSTORM GOLD LTD COM NEW 80013R206   992,530 189,053 SH   SOLE   0 0 189,053
TEJON RANCH CO COM 879080109   1,385,359 89,900 SH   SOLE   0 0 89,900
TEXAS PACIFIC LAND CORPORATI COM 88262P102   57,920,760 100,121 SH   SOLE   0 0 100,121
VANGUARD INDEX FDS TOTAL STK MKT 922908769   3,244,072 12,482 SH   SOLE   0 0 12,482
VANGUARD SPECIALIZED FUNDS DIV APP ETF 921908844   1,835,596 10,052 SH   SOLE   0 0 10,052
WHEATON PRECIOUS METALS CORP COM 962879102   7,198,770 152,743 SH   SOLE   0 0 152,743