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
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702   4,710,289 9,369 SH   SOLE 0 0 0 9,369
BLACK STONE MINERALS L P COM UNIT 09225M101   25,422,475 1,934,739 SH   SOLE 0 5,632 0 1,929,107
BRITISH AMERN TOB PLC SPONSORED ADR 110448107   30,446,238 573,592 SH   SOLE 0 1,638 0 571,954
CACI INTL INC CL A 127190304   6,202,329 12,435 SH   SOLE 0 32 0 12,403
CANADIAN NAT RES LTD COM 136385101   10,714,655 335,252 SH   SOLE 0 445 0 334,807
COMCAST CORP NEW CL A 20030N101   10,610,518 337,699 SH   SOLE 0 416 0 337,283
ELEVANCE HEALTH INC FORMERLY COM 036752103   4,235,325 13,108 SH   SOLE 0 31 0 13,077
ENTERPRISE PRODS PARTNERS L COM 293792107   16,743,340 535,444 SH   SOLE 0 1,746 0 533,698
HUMANA INC COM 444859102   5,194,554 19,966 SH   SOLE 0 59 0 19,907
HUNTINGTON INGALLS INDS INC COM 446413106   33,378,026 115,932 SH   SOLE 0 345 0 115,587
INNOVEX INTERNATIONAL INC COM 457651107   11,755,398 634,056 SH   SOLE 0 2,080 0 631,976
ISHARES TR 20 YR TR BD ETF 464287432   159,302 282,200 SH Put SOLE 0 0 0 282,200
ISHARES TR NATIONAL MUN ETF 464288414   3,534,510 33,191 SH   SOLE 0 0 0 33,191
ISHARES TR 20 YR TR BD ETF 464287432   194,363 177,500 SH Put SOLE 0 0 0 177,500
ISHARES TR SHORT TREAS BD 464288679   2,827,771 25,593 SH   SOLE 0 0 0 25,593
KONINKLIJKE PHILIPS N V NY REGIS SHS NEW 500472303   13,748,908 504,362 SH   SOLE 0 1,642 0 502,720
LIBERTY BROADBAND CORP COM SER C 530307305   16,896,557 265,920 SH   SOLE 0 510 0 265,410
MCKESSON CORP COM 58155Q103   13,967,310 18,080 SH   SOLE 0 64 0 18,016
MOLINA HEALTHCARE INC COM 60855R100   20,243,400 105,787 SH   SOLE 0 319 0 105,468
NU HLDGS LTD ORD SHS CL A G6683N103   7,978,423 498,340 SH   SOLE 0 1,445 0 496,895
NVIDIA CORPORATION COM 67066G104   373,160 2,000 SH   SOLE 0 0 0 2,000
PHILIP MORRIS INTL INC COM 718172109   19,712,993 121,535 SH   SOLE 0 348 0 121,187
QVC GROUP INC COM SER A NEW 74915M605   655,601 48,599 SH   SOLE 0 78 0 48,521
SOLVENTUM CORP COM SHS 83444M101   18,903,277 258,949 SH   SOLE 0 784 0 258,165
SPDR GOLD TR GOLD SHS 78463V107   2,549,153 65,100 SH Call SOLE 0 200 0 64,900
SPDR S&P 500 ETF TR TR UNIT 78462F103   550,750 296,900 SH Put SOLE 0 200 0 296,700
SPROTT INC COM NEW 852066208   868,920 10,445 SH   SOLE 0 0 0 10,445
THERMO FISHER SCIENTIFIC INC COM 883556102   273,066 563 SH   SOLE 0 0 0 563
TRIUMPH FINANCIAL INC COM 89679E300   12,680,136 253,400 SH   SOLE 0 733 0 252,667
UBER TECHNOLOGIES INC COM 90353T100   43,591,947 444,952 SH   SOLE 0 1,274 0 443,678
VANECK ETF TRUST GOLD MINERS ETF 92189F106   267,400 3,500 SH   SOLE 0 0 0 3,500