Securities ▲▼ | Shares | Value ($K) | |||||
|---|---|---|---|---|---|---|---|
Q4 2025 ▲▼ | Q1 2026 ▲▼ | Change ▲▼ | Q4 2025 ▲▼ | Q1 2026 ▲▼ | Weight (%) ▲▼ | Change ▲▼ | |
| TEXAS PACIFIC LAND CORPORATI(TPL) | 286,083 | 285,120 | -963 | 82,169 | 135,307 | 48.82% | +53,138 |
| LANDBRIDGE COMPANY LLC(LB) | 262,934 | 266,385 | +3,451 | 12,881 | 18,394 | 6.64% | +5,513 |
| PERMIAN BASIN RTY TR(PBT) | 986,819 | 1,003,140 | +16,321 | 16,756 | 21,588 | 7.79% | +4,831 |
| CARNIVAL CORP | 0 | 156,181 | +156,181 | 0 | 4,042 | 1.46% | +4,042 |
| HAWAIIAN ELEC INDS INC MTN B(HE) | 1,284,150 | 1,317,050 | +32,900 | 15,795 | 19,545 | 7.05% | +3,750 |
| WATERBRIDGE INFRASTRUCTURE L(WBI) | 257,000 | 270,900 | +13,900 | 5,143 | 7,257 | 2.62% | +2,115 |
| FRANCO NEV CORP(FNV) | 23,594 | 23,590 | -4 | 4,891 | 5,828 | 2.10% | +937 |
| HAWAIIAN ELEC INDS INC MTN B(HE)(Call) | 0 | 0 | 0 | 175 | 696 | — | +521 |
| WHEATON PRECIOUS METALS CORP(WPM) | 97,604 | 89,271 | -8,333 | 11,470 | 11,695 | 4.22% | +225 |
| CBOE GLOBAL MKTS INC(CBOE) | 6,690 | 6,680 | -10 | 1,679 | 1,877 | 0.68% | +198 |
| EATON CORP PLC(ETN) | 1,200 | 1,200 | 0 | 382 | 429 | 0.15% | +47 |
| JOHNSON & JOHNSON(JNJ) | 1,200 | 1,200 | 0 | 248 | 293 | 0.11% | +45 |
| ROYAL GOLD INC(RGLD) | 2,656 | 2,463 | -193 | 591 | 627 | 0.23% | +36 |
| CACI INTL INC(CACI) | 805 | 805 | 0 | 429 | 438 | 0.16% | +9 |
| CISCO SYS INC(CSCO) | 6,000 | 6,000 | 0 | 462 | 466 | 0.17% | +3 |
| CINCINNATI FINL CORP(CINF) | 3,600 | 3,600 | 0 | 588 | 566 | 0.20% | -21 |
| JPMORGAN CHASE & CO(JPM) | 1,400 | 1,417 | +17 | 451 | 417 | 0.15% | -34 |
| INTERCONTINENTAL EXCHANGE IN(ICE) | 7,645 | 7,645 | 0 | 1,238 | 1,202 | 0.43% | -36 |
| AMAZON COM INC(AMZN) | 3,500 | 3,500 | 0 | 808 | 729 | 0.26% | -79 |
| APPLE INC(AAPL) | 5,100 | 5,100 | 0 | 1,386 | 1,294 | 0.47% | -92 |
| UNITEDHEALTH GROUP INC(UNH) | 1,700 | 1,700 | 0 | 561 | 460 | 0.17% | -101 |
| PALO ALTO NETWORKS INC(PANW) | 5,484 | 5,484 | 0 | 1,010 | 879 | 0.32% | -131 |
| VANGUARD SPECIALIZED FUNDS | 1,600 | 1,000 | -600 | 352 | 215 | 0.08% | -137 |
| RLI CORP(RLI) | 7,500 | 6,000 | -1,500 | 480 | 342 | 0.12% | -138 |
| MIAMI INTL HLDGS INC(MIAX) | 75,050 | 81,250 | +6,200 | 3,331 | 3,162 | 1.14% | -168 |
| BERKSHIRE HATHAWAY INC DEL | 1,125 | 825 | -300 | 565 | 395 | 0.14% | -170 |
| KIMBERLY-CLARK CORP(KMB) | 2,800 | 0 | -2,800 | 282 | 0 | — | -282 |
| INVESCO EXCHANGE TRADED FD T S&P500 EQL WGT | 1,508 | 0 | -1,508 | 289 | 0 | — | -289 |
| CITIGROUP INC(C) | 3,000 | 0 | -3,000 | 350 | 0 | — | -350 |
| ORACLE CORP(ORCL) | 8,050 | 8,050 | 0 | 1,569 | 1,184 | 0.43% | -385 |
| GRAYSCALE BITCOIN MINI TR ET(BTC) | 77,647 | 81,217 | +3,570 | 3,007 | 2,436 | 0.88% | -572 |
| VANGUARD INDEX FDS | 12,122 | 8,800 | -3,322 | 4,064 | 2,823 | 1.02% | -1,241 |
| FIDELITY WISE ORIGIN BITCOIN(FBTC) | 70,859 | 70,339 | -520 | 5,402 | 4,152 | 1.50% | -1,249 |
| MESABI TR | 296,649 | 321,546 | +24,897 | 11,427 | 10,129 | 3.65% | -1,298 |
| CARNIVAL CORP | 155,596 | 0 | -155,596 | 4,752 | 0 | — | -4,752 |
| GRAYSCALE BITCOIN TRUST ETF(GBTC) | 360,454 | 360,139 | -315 | 24,641 | 19,001 | 6.86% | -5,640 |