| Berkshire Hathaway Inc. Del | $10.3B | 26.34% | 13,803 | -166 | Trimmed |
| Microsoft Corp. (MSFT) | $1.6B | 4.13% | 4,345,361 | -25,803 | Trimmed |
| ASML Holding N.V. (ASML) | $1.4B | 3.64% | 718,408 | -35,944 | Trimmed |
| Apple Inc. (AAPL) | $1.4B | 3.64% | 4,935,720 | -80,775 | Trimmed |
| Alphabet Inc. (GOOG) | $1.4B | 3.54% | 3,931,213 | -120,725 | Trimmed |
| Brookfield Corporation (BN) | $964.4M | 2.46% | 22,611,066 | -654,619 | Trimmed |
| Applied Materials Inc. (AMAT) | $896.8M | 2.29% | 1,240,454 | -264,971 | Trimmed |
| Berkshire Hathaway Inc. Class B (BRKB) | $889.6M | 2.27% | 1,777,769 | -25,831 | Trimmed |
| KKR & Co. Inc. (KKR) | $864.2M | 2.20% | 9,416,070 | +21,903 | Added |
| Autozone Inc. (AZO) | $837.8M | 2.13% | 262,141 | +326 | Added |
| Broadcom Inc. (AVGO) | $812.3M | 2.07% | 2,150,271 | -32,886 | Trimmed |
| Amazon.com Inc. (AMZN) | $777.6M | 1.98% | 3,262,397 | +7,292 | Added |
| Intel Corp. (INTC) | $647.7M | 1.65% | 4,638,876 | -1,052,184 | Trimmed |
| Visa Inc. (V) | $577.3M | 1.47% | 1,682,548 | +133,732 | Added |
| Landbridge Company LLC (LB) | $561.2M | 1.43% | 7,082,845 | +25,617 | Added |
| Oracle Corp. (ORCL) | $552.9M | 1.41% | 3,772,494 | -167,535 | Trimmed |
| Alphabet Inc. (GOOGL) | $528.6M | 1.35% | 1,479,067 | -37,626 | Trimmed |
| NVIDIA Corp. (NVDA) | $506.6M | 1.29% | 2,531,922 | -11,056 | Trimmed |
| Texas Pacific Land Corp. (TPL) | $466.0M | 1.19% | 1,064,741 | +1,972 | Added |
| Danaher Corp. (DHR) | $429.1M | 1.09% | 2,248,424 | -90,118 | Trimmed |
| Thermo Fisher Scientific Inc. (TMO) | $422.4M | 1.08% | 841,894 | +74,734 | Added |
| S&P Global Inc. (SPGI) | $421.0M | 1.07% | 1,033,680 | -12,971 | Trimmed |
| Honeywell International Inc. (HON) | $416.0M | 1.06% | 1,858,036 | -122,753 | Trimmed |
| Honeywell Aerospace Inc. (HONA) | $414.7M | 1.06% | 1,875,740 | +1,875,740 | New position |
| Synopsys Inc. (SNPS) | $383.2M | 0.98% | 859,147 | +10,555 | Added |
| UnitedHealth Group Inc. (UNH) | $360.5M | 0.92% | 867,432 | -160,245 | Trimmed |
| Linde plc (LIN) | $352.0M | 0.90% | 678,305 | -34,294 | Trimmed |
| Philip Morris International Inc. (PM) | $322.2M | 0.82% | 1,769,286 | -6,283 | Trimmed |
| GE Vernova Inc. (GEV) | $318.0M | 0.81% | 270,578 | -2,782 | Trimmed |
| Vanguard S&P 500 (VOO) | $295.4M | 0.75% | 430,074 | +7,401 | Added |
| Lowe's Companies Inc. (LOW) | $290.4M | 0.74% | 1,317,185 | -82,244 | Trimmed |
| Salesforce, Inc. (CRM) | $273.4M | 0.70% | 1,740,423 | -904,905 | Trimmed |
| Take-Two Interactive Software, Inc. (TTWO) | $253.9M | 0.65% | 1,015,618 | +4,353 | Added |
| Uber Technologies, Inc. (UBER) | $248.5M | 0.63% | 3,443,141 | +2,812,761 | Added |
| Ally Financial Inc. (ALLY) | $205.8M | 0.53% | 4,479,185 | -104,891 | Trimmed |
| O'Reilly Automotive, Inc. (ORLY) | $203.8M | 0.52% | 2,213,280 | -54,723 | Trimmed |
| Marriott International Inc. (MAR) | $195.8M | 0.50% | 528,442 | -9,175 | Trimmed |
| Booking Holdings Inc. (BKNG) | $194.1M | 0.49% | 1,089,139 | +59,864 | Added |
| Johnson & Johnson (JNJ) | $179.0M | 0.46% | 704,715 | -5,175 | Trimmed |
| Union Pacific Corp. (UNP) | $176.0M | 0.45% | 647,042 | -8,214 | Trimmed |
| Carlisle Companies Inc. (CSL) | $170.2M | 0.43% | 469,174 | +24,908 | Added |
| Amrize Ltd. (AMRZ) | $167.6M | 0.43% | 3,144,788 | -793,091 | Trimmed |
| American Express Co. (AXP) | $153.4M | 0.39% | 453,549 | -6,141 | Trimmed |
| AbbVie Inc. (ABBV) | $149.7M | 0.38% | 594,732 | -10,100 | Trimmed |
| General Electric Co. (GE) | $144.2M | 0.37% | 385,836 | +193,085 | Added |
| McDonald's Corp. (MCD) | $140.4M | 0.36% | 519,232 | -21,064 | Trimmed |
| Match Group, Inc. (MTCH) | $139.6M | 0.36% | 3,668,235 | -18,056 | Trimmed |
| Vertiv Holdings Co. (VRT) | $129.0M | 0.33% | 385,343 | -166,750 | Trimmed |
| Ball Corp. (BALL) | $127.5M | 0.33% | 2,043,868 | +22,973 | Added |
| Assurant, Inc. (AIZ) | $108.9M | 0.28% | 405,627 | -2,962 | Trimmed |
| Capital One Financial Corp. (COF) | $107.7M | 0.27% | 536,652 | -713 | Trimmed |
| Meta Platforms, Inc. (META) | $99.1M | 0.25% | 175,882 | -13,668 | Trimmed |
| Northern LTS FD Trust IV (FMCX) | $97.7M | 0.25% | 2,619,156 | -397,395 | Trimmed |
| JPMorgan Chase & Co. (JPM) | $96.3M | 0.24% | 294,172 | +900 | Added |
| Invesco Exchange Traded FD T (RSP) | $95.1M | 0.24% | 447,053 | +39,590 | Added |
| Accenture plc (ACN) | $94.2M | 0.24% | 756,729 | +275,540 | Added |
| Intercontinental Exchange, Inc. (ICE) | $89.7M | 0.23% | 728,686 | -291,017 | Trimmed |
| Service Corp. International (SCI) | $87.9M | 0.22% | 1,157,795 | -5,169 | Trimmed |
| Eli Lilly & Co. (LLY) | $87.2M | 0.22% | 72,685 | -997 | Trimmed |
| Qxo, Inc. (QXO) | $84.1M | 0.21% | 4,868,271 | +3,224,204 | Added |
| Wolfspeed, Inc. (WOLF) | $79.4M | 0.20% | 1,644,966 | +1,644,966 | New position |
| Workday, Inc. (WDAY) | $78.3M | 0.20% | 639,339 | +639,339 | New position |
| CSW Industrials, Inc. (CSW) | $75.2M | 0.19% | 270,170 | +403 | Added |
| Veralto Corp. (VLTO) | $73.0M | 0.19% | 821,834 | +248,171 | Added |
| Coca-Cola Co. (KO) | $72.7M | 0.18% | 888,365 | -36,556 | Trimmed |
| Boston Scientific Corp. (BSX) | $72.4M | 0.18% | 1,697,334 | -3,213,883 | Trimmed |
| Pool Corp. (POOL) | $69.4M | 0.18% | 323,110 | +38,086 | Added |
| Eaglerock Land LLC -CL A (EROK) | $69.2M | 0.18% | 3,256,970 | +3,256,970 | New position |
| Cencora, Inc. (COR) | $68.1M | 0.17% | 240,747 | -2,056 | Trimmed |
| TMC the Metals Company Inc. (TMC) | $67.8M | 0.17% | 15,315,924 | 0 | Held |
| iShares Core S&P 500 ETF (IVV) | $67.8M | 0.17% | 90,479 | +22,018 | Added |
| Blackline, Inc. (BL) | $67.5M | 0.17% | 2,403,510 | -273,477 | Trimmed |
| Brookfield Infrast Partners (BIP) | $65.6M | 0.17% | 1,797,215 | -25,592 | Trimmed |
| Chubb Ltd. (CB) | $65.1M | 0.17% | 190,921 | +2,842 | Added |
| Kinsale Capital Group, Inc. (KNSL) | $62.1M | 0.16% | 188,375 | -427,656 | Trimmed |
| Keysight Technologies, Inc. (KEYS) | $61.4M | 0.16% | 175,497 | -10,695 | Trimmed |
| IQVIA Holdings Inc. (IQV) | $60.4M | 0.15% | 312,542 | +12,486 | Added |
| Vanguard Mid Cap Index ETF (VO) | $56.3M | 0.14% | 698,320 | +72,736 | Added |
| iShares Trust (SOXX) | $54.7M | 0.14% | 85,294 | -15,978 | Trimmed |
| Nestle SA Sponsored ADR Repstg Reg SHS (NSRGY) | $54.2M | 0.14% | 528,186 | -65,235 | Trimmed |
| Mastercard Inc. (MA) | $50.1M | 0.13% | 97,516 | -2,807 | Trimmed |
| Brookfield Asset Management Ltd. (BAM) | $47.9M | 0.12% | 1,069,167 | -37,878 | Trimmed |
| Canadian Natural Resources Limited (CNQ) | $44.9M | 0.11% | 1,124,614 | -34,367 | Trimmed |
| Hilton Worldwide Holdings Inc. (HLT) | $44.9M | 0.11% | 135,896 | -4,299 | Trimmed |
| Morgan Stanley (MS) | $44.1M | 0.11% | 211,022 | -4,044 | Trimmed |
| Mondelez International, Inc. (MDLZ) | $43.2M | 0.11% | 740,231 | -125,460 | Trimmed |
| Charles Schwab Corp. (SCHW) | $42.3M | 0.11% | 458,665 | -5,438 | Trimmed |
| Moody's Corp. (MCO) | $40.3M | 0.10% | 89,014 | -288 | Trimmed |
| International Business Machines Corp. (IBM) | $39.4M | 0.10% | 139,968 | +4,286 | Added |
| Advanced Micro Devices Inc. (AMD) | $38.7M | 0.10% | 66,599 | -17,387 | Trimmed |
| Vanguard Value ETF (VTV) | $37.3M | 0.10% | 171,366 | +148,364 | Added |
| Vanguard Specialized Funds (VIG) | $35.8M | 0.09% | 151,279 | +4,292 | Added |
| Amgen Inc. (AMGN) | $31.5M | 0.08% | 87,079 | -3,830 | Trimmed |
| Copart Inc. (CPRT) | $31.0M | 0.08% | 1,099,434 | -1,846,696 | Trimmed |
| Snap-on Inc. (SNA) | $30.6M | 0.08% | 76,036 | -425 | Trimmed |
| Wells Fargo & Company (WFC) | $30.1M | 0.08% | 364,317 | -2,406 | Trimmed |
| Vanguard Small Cap ETF (VB) | $30.1M | 0.08% | 99,194 | +9,767 | Added |
| Procter & Gamble Co. (PG) | $29.8M | 0.08% | 203,054 | -11,239 | Trimmed |
| SPDR S&P 500 (SPY) | $29.4M | 0.07% | 39,352 | +3,480 | Added |
| Vanguard Whitehall FDS (VYM) | $29.1M | 0.07% | 184,342 | 0 | Held |