| Texas Pacific Land Corporation | 327K | US$143M | 47.3% |
| Hawaiian Electric Industries | 1.61M | US$21.8M | 7.2% |
| Waterbridge Infrastructure Llc | 417K | US$14.3M | 4.7% |
| Landbridge Company Llc | 166K | US$13.2M | 4.3% |
| Miami International Holdings, Inc. | 181K | US$6.72M | 2.2% |
| White Mountains Insurance Group, Ltd. | 1,900 | US$3.94M | 1.3% |
| Permian Basin Royalty Trust | 127K | US$3.19M | 1.1% |
| Galaxy Digital Inc. | 110K | US$3.01M | 0.99% |
| Urbana Corporation | 489K | US$2.86M | 0.94% |
| Cboe Global Markets, Inc. | 8,000 | US$1.94M | 0.64% |
| Western Midstream Partners, Lp | 40,562 | US$1.77M | 0.59% |
| Clarkson Plc | 29,000 | US$1.6M | 0.53% |
| Intercontinental Exchange Inc. | 12,900 | US$1.59M | 0.52% |
| Fairfax India Holdings Corp | 84,200 | US$1.54M | 0.51% |
| Broadridge Financial Solutions, Inc. | 10,400 | US$1.42M | 0.47% |
| Visa Inc. | 4,000 | US$1.37M | 0.45% |
| Cme Group Inc. | 5,800 | US$1.28M | 0.42% |
| Euronext Nv | 7,720 | US$1.23M | 0.41% |
| Mesabi Trust | 41,482 | US$1.05M | 0.35% |
| Franco-nevada Corporation | 4,800 | US$1M | 0.33% |
| Wheaton Precious Metals Corp | 8,000 | US$899K | 0.30% |
| Fermi Inc. | 84,000 | US$769K | 0.25% |
| Investor Ab Class A | 17,000 | US$706K | 0.23% |
| Tmx Group Ltd. | 18,000 | US$589K | 0.19% |
| Nasdaq, Inc. | 7,200 | US$568K | 0.19% |
| Mastercard Incorporated | 1,000 | US$514K | 0.17% |
| Deutsche Boerse Ag | 1,800 | US$491K | 0.16% |
| Boswell (j.g.) Co. | 764 | US$422K | 0.14% |
| Nzx Limited | 400K | US$320K | 0.11% |
| Brookfield Wealth Solutions Ltd. Class A | 6,925 | US$295K | 0.10% |
| Circle Internet Group, Inc. | 4,000 | US$251K | 0.08% |
| Bakkt, Inc. | 32,000 | US$250K | 0.08% |
| Tejon Ranch Co | 11,400 | US$213K | 0.07% |
| Anglo American Plc | 3,465 | US$174K | 0.06% |
| Rb Global, Inc. | 1,400 | US$163K | 0.05% |
| Asx Limited | 4,400 | US$162K | 0.05% |
| Caci International, Inc. | 300 | US$139K | 0.05% |
| Gold.com, Inc. | 3,200 | US$133K | 0.04% |
| Japan Exchange Group, Inc. | 8,203 | US$104K | 0.03% |
| Arthur J. Gallagher & Co. | 400 | US$91,828 | 0.03% |
| London Stock Exchange Group Plc | 600 | US$64,959 | 0.02% |
| Affiliated Managers Group, Inc. | 190 | US$64,296 | 0.02% |
| S&p Global Inc. | 113 | US$46,020 | 0.02% |
| Brookfield Asset Management Inc | 806 | US$36,149 | 0.01% |
| Pure Cycle Corporation | 3,200 | US$34,272 | 0.01% |
| Ig Port, Inc. | 4,000 | US$32,129 | 0.01% |
| Valterra Platinum Limited | 412 | US$27,324 | <0.01% |
| Science Applications International Corporation | 200 | US$22,082 | <0.01% |
| Burford Capital Limited | 2,800 | US$11,480 | <0.01% |
| Booz Allen Hamilton Holding Corporation | 144 | US$8,736 | <0.01% |
| Nippon Television Holdings, Inc. | 400 | US$6,875 | <0.01% |
| Toei Animation Co., Ltd. | 400 | US$5,988 | <0.01% |
| Marketaxess Holdings, Inc. | 48 | US$5,448 | <0.01% |
| Cra International,inc. | 36 | US$5,123 | <0.01% |
| Hong Kong Exchanges & Clearing Ltd. | 100 | US$4,628 | <0.01% |
| Prairiesky Royalty Ltd | 200 | US$4,476 | <0.01% |
| Fairfax Financial Holdings Limited | 2 | US$3,294 | <0.01% |
| Jse Limited | 200 | US$1,919 | <0.01% |
| Autonation, Inc. | 10 | US$1,858 | <0.01% |
| Canton Strategic Holdings, Inc. | 600 | US$1,692 | <0.01% |
| Alphapolis Co., Ltd. | 200 | US$1,187 | <0.01% |
| Eagle Materials Inc | 4 | US$900 | <0.01% |
| B3 Sa - Brasil, Bolsa, Balcao | 274 | US$850 | <0.01% |
| Value Partners Group Limited | 2,000 | US$523 | <0.01% |
| Core Natural Resources, Inc. | 2 | US$160 | <0.01% |