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
Estimated average burden
hours per response: 23.8
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
BANK OF NT BUTTERFIELD&SON L SHS NEW G0772R208   1,815,173 42,292 SH   SOLE   0 0 42,292
VALARIS LTD CL A G9460G101   1,340,834 27,493 SH   SOLE   0 0 27,493
VALARIS LTD *W EXP 04/29/202 G9460G119   234,234 83,658 SH   SOLE   0 0 83,658
CHECK POINT SOFTWARE TECH LT ORD M22465104   2,726,039 13,175 SH   SOLE   0 0 13,175
CRESUD S A C I F Y A *W EXP 03/09/202 P3311R259   207,788 310,967 SH   SOLE   0 0 310,967
DHT HOLDINGS INC SHS NEW Y2065G121   1,168,758 97,804 SH   SOLE   0 0 97,804
INTERNATIONAL SEAWAYS INC COM Y41053102   985,236 21,381 SH   SOLE   0 0 21,381
AFLAC INC COM 001055102   837,750 7,500 SH   SOLE   0 0 7,500
EA SERIES TRUST ALPHA ARCH 1-3 02072L565   6,554,465 57,566 SH   SOLE   0 0 57,566
ALPHABET INC CAP STK CL C 02079K107   2,067,009 8,487 SH   SOLE   0 0 8,487
BERKSHIRE HATHAWAY INC DEL CL A 084670108   4,525,200 6 SH   SOLE   0 0 6
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702   10,637,978 21,160 SH   SOLE   0 0 21,160
BLACK STONE MINERALS L P COM UNIT 09225M101   7,630,608 580,716 SH   SOLE   0 0 580,716
BRITISH AMERN TOB PLC SPONSORED ADR 110448107   16,748,385 315,531 SH   SOLE   0 0 315,531
BUILDERS FIRSTSOURCE INC COM 12008R107   1,176,246 9,701 SH   SOLE   0 0 9,701
CANADIAN NAT RES LTD COM 136385101   7,206,596 225,488 SH   SOLE   0 0 225,488
CLEARPOINT NEURO INC COM 18507C103   255,575 11,729 SH   SOLE   0 0 11,729
DIAGEO PLC SPON ADR NEW 25243Q205   380,670 3,989 SH   SOLE   0 0 3,989
ENTERPRISE PRODS PARTNERS L COM 293792107   4,358,162 139,372 SH   SOLE   0 0 139,372
EXPEDITORS INTL WASH INC COM 302130109   269,698 2,200 SH   SOLE   0 0 2,200
FRP HLDGS INC COM 30292L107   1,280,581 52,569 SH   SOLE   0 0 52,569
INTERACTIVE BROKERS GROUP IN COM CL A 45841N107   5,229,560 76,000 SH   SOLE   0 0 76,000
MARAVAI LIFESCIENCES HLDGS I COM CL A 56600D107   287,224 100,078 SH   SOLE   0 0 100,078
MAXCYTE INC COM 57777K106   98,170 62,133 SH   SOLE   0 0 62,133
MID-AMER APT CMNTYS INC COM 59522J103   280,578 2,008 SH   SOLE   0 0 2,008
NEW ENGLAND RLTY ASSOC LTD P DEPOSITRY RCPT 644206104   617,474 8,636 SH   SOLE   0 0 8,636
PHILIP MORRIS INTL INC COM 718172109   17,301,387 106,667 SH   SOLE   0 0 106,667
SEACOR MARINE HLDGS INC COM 78413P101   1,007,443 155,230 SH   SOLE   0 0 155,230
SLM CORP COM 78442P106   1,605,523 58,003 SH   SOLE   0 0 58,003
SPDR S&P 500 ETF TR TR UNIT 78462F103   3,618,690 5,432 SH   SOLE   0 0 5,432
TIDEWATER INC NEW COM 88642R109   1,347,916 25,275 SH   SOLE   0 0 25,275
VANGUARD TAX-MANAGED FDS VAN FTSE DEV MKT 921943858   14,026,613 234,089 SH   SOLE   0 0 234,089
VIRTU FINL INC CL A 928254101   2,931,661 82,582 SH   SOLE   0 0 82,582
WARRIOR MET COAL INC COM 93627C101   2,485,269 39,052 SH   SOLE   0 0 39,052