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BECK MACK & OLIVER LLC
> SJT
| Date | Name | Ticker | Shares | Change | Value | Change | Price |
| 06/30/2023 | SAN JUAN BASIN ROYALTY TRUST | SJT | 23,780 | -15,800 | 176,685,000 | -275,319,000 | $7,429.98 |
| 12/31/2022 | SAN JUAN BASIN ROYALTY TRUST | SJT | 39,580 | 0 | 452,004,000 | 451,632,000 | $11,420.01 |
| 09/30/2022 | SAN JUAN BASIN ROYALTY TRUST | SJT | 39,580 | -200 | 372,000 | 27,000 | $9.40 |
| 06/30/2022 | SAN JUAN BASIN ROYALTY TRUST | SJT | 39,780 | 0 | 345,000 | -4,000 | $8.67 |
| 03/31/2022 | SAN JUAN BASIN ROYALTY TRUST | SJT | 39,780 | 0 | 349,000 | 107,000 | $8.77 |
| 12/31/2021 | SAN JUAN BASIN ROYALTY TRUST | SJT | 39,780 | -2,200 | 242,000 | 30,000 | $6.08 |
| 09/30/2021 | SAN JUAN BASIN ROYALTY TRUST | SJT | 41,980 | -3,700 | 212,000 | -23,000 | $5.05 |
| 06/30/2021 | SAN JUAN BASIN ROYALTY TRUST | SJT | 45,680 | 0 | 235,000 | 54,000 | $5.14 |
| 03/31/2021 | SAN JUAN BASIN ROYALTY TRUST | SJT | 45,680 | -1,000 | 181,000 | 56,000 | $3.96 |
| 12/31/2020 | SAN JUAN BASIN ROYALTY TRUST | SJT | 46,680 | -2,600 | 125,000 | 1,000 | $2.68 |
| 09/30/2020 | SAN JUAN BASIN ROYALTY TRUST | SJT | 49,280 | -16,500 | 124,000 | -26,000 | $2.52 |
| 06/30/2020 | SAN JUAN BASIN ROYALTY TRUST | SJT | 65,780 | -10,100 | 150,000 | -9,000 | $2.28 |
| 03/31/2020 | SAN JUAN BASIN ROYALTY TRUST | SJT | 75,880 | -56,850 | 159,000 | -178,000 | $2.10 |
| 12/31/2019 | SAN JUAN BASIN ROYALTY TRUST | SJT | 132,730 | 132,730 | 337,000 | 337,000 | $2.54 |
| 06/30/2019 | SAN JUAN BASIN ROYALTY TRUST | SJT | 0 | -447,721 | 0 | -2,404,000 | |
| 03/31/2019 | SAN JUAN BASIN ROYALTY TRUST | SJT | 447,721 | -48,600 | 2,404,000 | 22,000 | $5.37 |
| 12/31/2018 | SAN JUAN BASIN ROYALTY TRUST | SJT | 496,321 | -615,583 | 2,382,000 | -3,133,000 | $4.80 |
| 09/30/2018 | SAN JUAN BASIN ROYALTY TRUST | SJT | 1,111,904 | -207,616 | 5,515,000 | -2,125,000 | $4.96 |
| 06/30/2018 | SAN JUAN BASIN ROYALTY TRUST | SJT | 1,319,520 | -189,770 | 7,640,000 | 7,628,077 | $5.79 |
| 03/31/2018 | SAN JUAN BASIN ROYALTY TRUST | SJT | 1,509,290 | -32,000 | 11,923 | -12,688,077 | $0.01 |
| 12/31/2017 | SAN JUAN BASIN ROYALTY TRUST | SJT | 1,541,290 | -374,176 | 12,700,000 | -2,317,000 | $8.24 |
| 09/30/2017 | SAN JUAN BASIN ROYALTY TRUST | SJT | 1,915,466 | -38,860 | 15,017,000 | 15,003,691 | $7.84 |
| 06/30/2017 | SAN JUAN BASIN ROYALTY TRUST | SJT | 1,954,326 | -61,649 | 13,309 | -14,582,691 | $0.01 |
| 03/31/2017 | SAN JUAN BASIN ROYALTY TRUST | SJT | 2,015,975 | -67,658 | 14,596,000 | 802,000 | $7.24 |
| 12/31/2016 | SAN JUAN BASIN ROYALTY TRUST | SJT | 2,083,633 | -347,388 | 13,793,650 | -549,350 | $6.62 |
| 09/30/2016 | SAN JUAN BASIN ROYALTY TRUST | SJT | 2,431,021 | -45,299 | 14,343,000 | -3,660,000 | $5.90 |
| 06/30/2016 | SAN JUAN BASIN ROYALTY TRUST | SJT | 2,476,320 | 1,327,492 | 18,003,000 | -436,000 | $7.27 |
| 03/31/2016 | SAN JUAN BASIN ROYALTY TRUST | SJT | 2,544,748 | 1,395,920 | 13,106,000 | -5,333,000 | $5.15 |
| 12/31/2015 | SAN JUAN BASIN ROYALTY TRUST | SJT | 2,585,335 | -1,398,968 | 10,703,287 | -26,988,713 | $4.14 |
| 09/30/2015 | SAN JUAN BASIN ROYALTY TRUST | SJT | 3,984,303 | 1,053,225 | 37,692,000 | 2,607,000 | $9.46 |
| 06/30/2015 | SAN JUAN BASIN ROYALTY TRUST | SJT | 3,183,808 | 252,730 | 34,194,000 | -891,000 | $10.74 |
| 03/31/2015 | SAN JUAN BASIN ROYALTY TRUST | SJT | 2,931,078 | 1,094,799 | 35,085,000 | 5,741,000 | $11.97 |
| 12/31/2014 | SAN JUAN BASIN ROYALTY TRUST | SJT | 2,987,404 | 131,566 | 42,570,507 | -11,690,493 | $14.25 |
| 09/30/2014 | SAN JUAN BASIN ROYALTY TRUST | SJT | 2,855,838 | 1,019,559 | 54,261,000 | 24,917,000 | $19.00 |
| 06/30/2014 | SAN JUAN BASIN ROYALTY TRUST | SJT | 2,733,360 | -39,444 | 52,726,000 | 3,786,000 | $19.29 |
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