CIK 1911615
Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2025-Q4. A lagged quarterly snapshot (filed ≤45 days after quarter-end); excludes shorts, options, cash, and shares listed only on non-US exchanges — foreign companies held via a US listing or ADR (e.g. Alibaba, TSMC) ARE included.
As filed = each book applied at its quarter-end (what the reported book did) · As copyable = applied at its statutory 45-day filing deadline (what a 13F follower could have earned).
Computing…
Hypothetical modeled performance constructed with hindsight — not actual results, and not indicative of future results. See the Disclaimer.
| Industry group | Weight | Names |
|---|---|---|
| Unclassified | 27.41% | 13 |
| Oil, Gas & Consumable Fuels | 16.35% | 10 |
| Utilities | 9.87% | 7 |
| Coal & Consumable Fuels | 6.44% | 3 |
| Metals & Mining | 4.87% | 6 |
| Aerospace & Defense | 4.78% | 2 |
| Construction Materials | 4.51% | 3 |
| Equity Real Estate Investment Trusts (REITs) | 4.47% | 6 |
| Real Estate Management & Development | 3.83% | 5 |
| Specialty Retail | 3.38% | 4 |
| Capital Markets | 2.72% | 2 |
| Machinery | 2.09% | 3 |
| Distributors | 1.58% | 5 |
| Road & Rail | 1.31% | 1 |
| Technology Hardware & Equipment | 1.21% | 4 |
| Communications Equipment | 0.79% | 1 |
| Paper & Forest Products | 0.78% | 1 |
| Chemicals | 0.74% | 2 |
| Software & IT Services | 0.70% | 2 |
| Hotels, Restaurants & Leisure | 0.44% | 1 |
| Airlines | 0.34% | 1 |
| Commercial Services & Supplies | 0.34% | 1 |
| Insurance | 0.32% | 2 |
| Entertainment | 0.32% | 1 |
| Banks | 0.28% | 1 |
| Software | 0.13% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | PHYS | Sprott Physical Gold Trust | Unclassified | 10.45% |
| 2 | BRK.B | BERKSHIRE HATHAWAY INC | Financials | 7.36% |
| 3 | NRP | NATURAL RESOURCE PARTNERS LP | Energy | 6.14% |
| 4 | DMLP | DORCHESTER MINERALS, L.P. | Energy | 5.79% |
| 5 | SU | SUNCOR ENERGY INC | Energy | 4.79% |
| 6 | EPD | ENTERPRISE PRODUCTS PARTNERS L.P. | Utilities | 3.15% |
| 7 | CNQ | CANADIAN NATURAL RESOURCES LTD | Energy | 2.97% |
| 8 | EXP | EAGLE MATERIALS INC | Materials | 2.91% |
| 9 | HON | HONEYWELL INTERNATIONAL INC | Industrials | 2.74% |
| 10 | TYG | TORTOISE ENERGY INFRA CORP | Unclassified | 2.60% |
76/88 names classified · sector 80.0% of weight · industry 72.6% · mkt cap 66.2%; unclassified names shown, never dropped.
Sector is classified on each name's CURRENT fundamentals, not point-in-time — apparent sector drift can reflect the market re-rating a holding, not a manager trade. 13F is a lagged quarterly snapshot of long positions in US-listed securities only — foreign companies held via a US listing or ADR ARE included, but shares listed only on non-US exchanges (plus shorts, options and cash) are not. Latest quarter: 80.0% of the book is sector-classified (unclassified names shown, never dropped).
Only 34% of book weight classified — the grid is NOT representative of the whole book.
Classified: 34.1% of book weight (48/88 names) · unclassified 65.9%: PHYS, BRK.B, NRP, DMLP, SU, EPD, CNQ, TYG, FNV, OUNZ +30 more. Size: cap 70/20/10 bands; style: value/growth composite on our own metrics — not Morningstar's model.
No contribution data for this period.
| # | Security | Shares | Value | Weight | Δ QoQ |
|---|---|---|---|---|---|
| 1 | PHYSSprott Physical Gold Trust | 548,744 | $19M | 10.5% | TRIM −7% |
| 2 | BRK.BBERKSHIRE HATHAWAY INC DEL | 28,656 | $14M | 7.4% | HOLD |
| 3 | NRPNATURAL RESOURCE PARTNERS L | 93,192 | $11M | 6.1% | HOLD |
| 4 | DMLPDORCHESTER MINERALS LP | 384,769 | $11M | 5.8% | TRIM −7% |
| 5 | SUSUNCOR ENERGY INC NEW | 134,927 | $9M | 4.8% | TRIM −24% |
| 6 | EPDENTERPRISE PRODS PARTNERS L | 155,825 | $6M | 3.2% | ADD 9% |
| 7 | CNQCANADIAN NAT RES LTD | 116,219 | $6M | 3.0% | TRIM −18% |
| 8 | EXPEAGLE MATLS INC | 28,772 | $5M | 2.9% | ADD 24% |
| 9 | HONHONEYWELL INTL INC | 22,165 | $5M | 2.7% | ADD 5% |
| 10 | TYGTORTOISE ENERGY INFRA CORP | 103,971 | $5M | 2.6% | ADD 8% |
| 11 | OKEONEOK INC NEW | 53,277 | $5M | 2.5% | ADD 30% |
| 12 | RGLDROYAL GOLD INC | 17,019 | $4M | 2.4% | ADD 26% |
| 13 | FNVFRANCO NEV CORP | 15,413 | $4M | 2.1% | TRIM −11% |
| 14 | LMTLOCKHEED MARTIN CORP | 6,105 | $4M | 2.0% | HOLD |
| 15 | OUNZVanEck Merk Gold Trust | 72,402 | $3M | 1.8% | HOLD |
| 16 | KMIKINDER MORGAN INC DEL | 98,475 | $3M | 1.7% | ADD 14% |
| 17 | WPCW. P. Carey Inc. | 40,973 | $3M | 1.5% | ADD 8% |
| 18 | SKYHSKY HARBOUR GROUP CORPORATIO | 271,752 | $3M | 1.5% | ADD 3% |
| 19 | MLPAGLOBAL X FDS | 50,283 | $3M | 1.5% | NEW |
| 20 | KNFKNIFE RIVER CORP | 34,930 | $3M | 1.4% | ADD 15% |
| 21 | MDVMODIV INDUSTRIAL INC | 171,423 | $3M | 1.4% | ADD 141% |
| 22 | CPCANADIAN PACIFIC KANSAS CITY | 30,897 | $2M | 1.3% | ADD 12% |
| 23 | ESABESAB CORPORATION | 24,172 | $2M | 1.3% | NEW |
| 24 | MUSAMURPHY USA INC | 4,586 | $2M | 1.2% | ADD 16% |
| 25 | TGSTRANSPORTADORA DE GAS SUR | 61,200 | $2M | 1.2% | NEW |
| 26 | OROR ROYALTIES INC. | 49,008 | $2M | 1.1% | TRIM −14% |
| 27 | ETENERGY TRANSFER L P | 86,875 | $2M | 0.9% | NEW |
| 28 | ENBENBRIDGE INC | 29,107 | $2M | 0.8% | TRIM −22% |
| 29 | LOWLOWES COS INC | 6,805 | $2M | 0.8% | TRIM −5% |
| 30 | FRPHFRP HLDGS INC | 70,587 | $2M | 0.8% | ADD 4% |
| 31 | QCOMQUALCOMM INC | 11,629 | $1M | 0.8% | ADD 77% |
| 32 | LEGHLEGACY HOUSING CORP | 70,840 | $1M | 0.8% | TRIM −48% |
| 33 | GRIDFIRST TR EXCHANGE TRADED FD | 8,740 | $1M | 0.8% | TRIM −10% |
| 34 | BRK.ABERKSHIRE HATHAWAY INC DEL | 2 | $1M | 0.8% | HOLD |
| 35 | VALVALARIS LTD | 14,280 | $1M | 0.8% | TRIM −38% |
| 36 | PAGPENSKE AUTOMOTIVE GRP INC | 9,253 | $1M | 0.7% | ADD 8% |
| 37 | CAAPCORPORACION AMER ARPTS S A | 50,259 | $1M | 0.7% | TRIM −5% |
| 38 | XARSPDR SERIES TRUST | 4,955 | $1M | 0.7% | TRIM −2% |
| 39 | BOCBOSTON OMAHA CORP | 101,747 | $1M | 0.7% | TRIM −4% |
| 40 | REXRREXFORD INDL RLTY INC | 36,249 | $1M | 0.6% | ADD 219% |
| 41 | TRMBTRIMBLE INC | 18,232 | $1M | 0.6% | ADD 50% |
| 42 | SOLSSOLSTICE ADVANCED MATLS INC | 15,339 | $1M | 0.6% | ADD 36% |
| 43 | HDHOME DEPOT INC | 3,188 | $1M | 0.6% | HOLD |
| 44 | LECOLINCOLN ELEC HLDGS INC | 4,149 | $1M | 0.5% | TRIM −19% |
| 45 | JOEST JOE CO | 14,330 | $933,600 | 0.5% | TRIM −12% |
| 46 | IMOIMPERIAL OIL LTD | 7,051 | $920,367 | 0.5% | TRIM −18% |
| 47 | AMRZAMRIZE LTD | 16,595 | $899,947 | 0.5% | ADD 2% |
| 48 | VOXRVOX ROYALTY CORP | 168,192 | $884,690 | 0.5% | TRIM −11% |
| 49 | GOOGLALPHABET INC | 2,948 | $871,982 | 0.5% | HOLD |
| 50 | DINDINE BRANDS GLOBAL INC | 31,720 | $808,860 | 0.4% | TRIM −7% |
| 51 | LAMRLAMAR ADVERTISING CO | 6,280 | $801,579 | 0.4% | HOLD |
| 52 | AEMAGNICO EAGLE MINES LTD | 3,780 | $788,281 | 0.4% | TRIM −30% |
| 53 | FERGFERGUSON ENTERPRISES INC | 3,301 | $775,966 | 0.4% | ADD 11% |
| 54 | WCCWESCO INTL INC | 2,764 | $766,872 | 0.4% | TRIM −3% |
| 55 | WPMWHEATON PRECIOUS METALS CORP | 5,657 | $766,863 | 0.4% | TRIM −7% |
| 56 | SNXSYNNEX CORP | 3,748 | $700,576 | 0.4% | TRIM −7% |
| 57 | NEMNEWMONT CORP | 5,764 | $657,384 | 0.4% | TRIM −39% |
| 58 | CRESYCRESUD S A C I F Y A | 52,028 | $654,512 | 0.4% | HOLD |
| 59 | OMABGRUPO AEROPORTUARIO DEL CENT | 5,485 | $640,264 | 0.3% | HOLD |
| 60 | MELIMERCADOLIBRE INC | 371 | $636,458 | 0.3% | ADD 22% |
| 61 | PRSUPURSUIT ATTRACTIONS AND HOSP | 15,727 | $593,694 | 0.3% | NEW |
| 62 | TFPMTRIPLE FLAG PRECIOUS METAL | 16,359 | $585,816 | 0.3% | TRIM −13% |
| 63 | TRPTC ENERGY CORP | 8,643 | $547,620 | 0.3% | TRIM −9% |
| 64 | FVRFRONTVIEW REIT INC | 34,937 | $542,572 | 0.3% | ADD 22% |
| 65 | SIISPROTT INC | 3,638 | $512,267 | 0.3% | TRIM −25% |
| 66 | XOMEXXON MOBIL CORP | 3,050 | $490,105 | 0.3% | TRIM −3% |
| 67 | ALTGALTA EQUIPMENT GROUP INC | 93,067 | $487,671 | 0.3% | HOLD |
| 68 | NPKNATIONAL PRESTO INDS INC | 3,432 | $486,143 | 0.3% | ADD 17% |
| 69 | GOOGALPHABET INC | 1,460 | $429,912 | 0.2% | HOLD |
| 70 | PSLVSPROTT ASSET MANAGEMENT LP | 16,970 | $399,983 | 0.2% | TRIM −32% |
| 71 | AAPLAPPLE INC | 1,514 | $387,484 | 0.2% | ADD 13% |
| 72 | OCOWENS CORNING NEW | 3,621 | $383,247 | 0.2% | ADD 50% |
| 73 | ATKRATKORE INC | 5,942 | $365,492 | 0.2% | TRIM −21% |
| 74 | PSXPHILLIPS 66 | 2,007 | $353,653 | 0.2% | HOLD |
| 75 | UMHUMH PPTYS INC | 22,950 | $334,841 | 0.2% | ADD 9% |
| 76 | BTUPEABODY ENERGY CORP | 9,412 | $315,867 | 0.2% | TRIM −22% |
| 77 | AIGAMERICAN INTL GROUP INC | 4,141 | $312,314 | 0.2% | TRIM −48% |
| 78 | VLTOVERALTO CORP | 3,533 | $310,939 | 0.2% | ADD 11% |
| 79 | HGTYHAGERTY INC | 26,250 | $287,963 | 0.2% | TRIM −10% |
| 80 | CVXCHEVRON CORP NEW | 1,290 | $256,716 | 0.1% | TRIM −8% |
| 81 | SJTSAN JUAN BASIN RTY TR | 53,900 | $252,791 | 0.1% | ADD 3% |
| 82 | SSNCSS&C TECHNOLOGIES HLDGS INC | 3,464 | $236,695 | 0.1% | TRIM −8% |
| 83 | HCCWARRIOR MET COAL INC | 2,490 | $236,276 | 0.1% | TRIM −23% |
| 84 | ARWArrow Electronics | 1,455 | $212,212 | 0.1% | TRIM −27% |
| 85 | NENOBLE CORP PLC | 4,105 | $204,675 | 0.1% | NEW |
| 86 | CECELANESE CORP DEL | 3,162 | $202,558 | 0.1% | NEW |
| 87 | HEHAWAIIAN ELEC INDS INC MTN B | 11,600 | $177,480 | 0.1% | TRIM −6% |
| 88 | SKYH.WSSKY HARBOUR GROUP CORPORATIO | 18,250 | $14,053 | 0.0% | TRIM −40% |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| PHYSSprott Physical Gold Trust | 822K | 654K | 632K | 611K | 593K | 549K | $19M |
| BRK.BBERKSHIRE HATHAWAY INC DEL | 29K | 28K | 27K | 28K | 29K | 29K | $14M |
| NRPNATURAL RESOURCE PARTNERS L | 46K | 49K | 68K | 78K | 95K | 93K | $11M |
| DMLPDORCHESTER MINERALS LP | 417K | 414K | 413K | 414K | 415K | 385K | $11M |
| SUSUNCOR ENERGY INC NEW | 280K | 271K | 268K | 247K | 178K | 135K | $9M |
| EPDENTERPRISE PRODS PARTNERS L | 85K | 90K | 109K | 125K | 143K | 156K | $6M |
| CNQCANADIAN NAT RES LTD | 171K | 175K | 175K | 192K | 141K | 116K | $6M |
| EXPEAGLE MATLS INC | 2K | 14K | 18K | 20K | 23K | 29K | $5M |
| HONHONEYWELL INTL INC | 5K | 13K | 15K | 18K | 21K | 22K | $5M |
| TYGTORTOISE ENERGY INFRA CORP | 123K | 104K | 95K | 93K | 96K | 104K | $5M |
| OKEONEOK INC NEW | 7K | 13K | 31K | 32K | 41K | 53K | $5M |
| RGLDROYAL GOLD INC | — | — | — | 3K | 13K | 17K | $4M |
| FNVFRANCO NEV CORP | 25K | 25K | 22K | 19K | 17K | 15K | $4M |
| LMTLOCKHEED MARTIN CORP | 7K | 7K | 6K | 6K | 6K | 6K | $4M |
| OUNZVanEck Merk Gold Trust | — | 55K | 68K | 72K | 73K | 72K | $3M |
Shares reported each quarter by the largest current holdings. Green = added vs the prior filing of that name, red = trimmed, grey = roughly held; a dash is a quarter with no 13F on file (a gap is skipped, not read as an exit). 13F is filed up to 45 days after quarter-end. Up to 40 quarters (10 years) available — use the selector above.
