The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
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COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
Abbott Laboratories COM 002824100 8,726 62,000 SH   SOLE   62,000 0 0
Adams Diversified Equity Fund, COM 006212104 3,296 169,819 SH   SOLE   169,819 0 0
Advance Auto Parts, Inc. COM 00751Y106 11,457 47,761 SH   SOLE   47,761 0 0
Agnico Eagle Mines Limited COM 008474108 15,152 285,141 SH   SOLE   285,141 0 0
Alamos Gold Inc. - Class A COM 011532108 13,327 1,733,042 SH   SOLE   1,733,042 0 0
Alphabet Inc. - Class C COM 02079K107 76,680 26,500 SH   SOLE   26,500 0 0
Amazon.com, Inc. COM 023135106 53,349 16,000 SH   SOLE   16,000 0 0
Angi Inc. COM 00183L102 9,230 1,002,225 SH   SOLE   1,002,225 0 0
Apple Inc. COM 037833100 61,794 348,000 SH   SOLE   348,000 0 0
Applied Materials, Inc. COM 038222105 19,143 121,652 SH   SOLE   121,652 0 0
Arch Capital Group Ltd. COM G0450A105 41,670 937,459 SH   SOLE   937,459 0 0
ASML Holding N.V. COM N07059210 63,373 79,600 SH   SOLE   79,600 0 0
Axis Capital Holdings Limited COM G0692U109 13,618 250,000 SH   SOLE   250,000 0 0
Azenta, Inc. COM 114340102 7,448 72,230 SH   SOLE   72,230 0 0
Berkshire Hathaway Inc. - Clas COM 084670108 49,573 110 SH   SOLE   110 0 0
Berkshire Hathaway Inc. - Clas COM 084670702 9,433 31,549 SH   SOLE   31,549 0 0
Booking Holdings Inc. COM 09857L108 9,597 4,000 SH   SOLE   4,000 0 0
Broadcom Inc. COM 11135F101 19,962 30,000 SH   SOLE   30,000 0 0
Cameco Corporation COM 13321L108 14,051 644,230 SH   SOLE   644,230 0 0
Chevron Corporation COM 166764100 11,969 101,991 SH   SOLE   101,991 0 0
Cisco Systems, Inc. COM 17275R102 34,410 543,000 SH   SOLE   543,000 0 0
Cleveland-Cliffs Inc. COM 185899101 14,579 669,669 SH   SOLE   669,669 0 0
Costco Wholesale Corporation COM 22160K105 30,088 53,000 SH   SOLE   53,000 0 0
Eaton Corporation plc COM G29183103 25,254 146,131 SH   SOLE   146,131 0 0
Elanco Animal Health Incorpora COM 28414H103 4,257 150,000 SH   SOLE   150,000 0 0
Energy Transfer LP COM 29273V100 10,864 1,320,030 SH   SOLE   1,320,030 0 0
Everest Re Group, Ltd. COM G3223R108 33,281 121,500 SH   SOLE   121,500 0 0
Expedia Group, Inc. COM 30212P303 16,096 89,065 SH   SOLE   89,065 0 0
Fiserv Inc COM 337738108 14,271 137,500 SH   SOLE   137,500 0 0
Gilead Sciences, Inc. COM 375558103 7,341 101,100 SH   SOLE   101,100 0 0
Gulf Coast Ultra Deep Royalty COM 40222T104 61 3,830,440 SH   SOLE   3,830,440 0 0
GXO Logistics, Inc. COM 36262G101 9,746 107,300 SH   SOLE   107,300 0 0
Halliburton Company COM 406216101 6,776 296,300 SH   SOLE   296,300 0 0
iCAD, Inc. COM 44934S206 1,807 251,008 SH   SOLE   251,008 0 0
Intra-Cellular Therapies, Inc. COM 46116X101 14,835 283,439 SH   SOLE   283,439 0 0
Invesco S&P Equal Weight COM 46137V357 4,575 28,111 SH   SOLE   28,111 0 0
JPMorgan Chase & Co. COM 46625H100 12,668 80,000 SH   SOLE   80,000 0 0
Liberty Broadband Corporation COM 530307305 15,750 97,768 SH   SOLE   97,768 0 0
M&T Bank Corporation COM 55261F104 16,894 110,000 SH   SOLE   110,000 0 0
Merck & Co., Inc. COM 58933Y105 18,408 240,191 SH   SOLE   240,191 0 0
Meta Platforms, Inc. - Class A COM 30303M102 16,986 50,500 SH   SOLE   50,500 0 0
MetLife, Inc. COM 59156R108 19,805 316,927 SH   SOLE   316,927 0 0
Microsoft Corporation COM 594918104 79,035 235,000 SH   SOLE   235,000 0 0
Nelnet, Inc. - Class A COM 64031N108 23,777 243,415 SH   SOLE   243,415 0 0
Paratek Pharmaceuticals, Inc. COM 699374302 5,868 1,306,919 SH   SOLE   1,306,919 0 0
PepsiCo, Inc. COM 713448108 24,319 140,000 SH   SOLE   140,000 0 0
Pfizer Inc. COM 717081103 20,420 345,808 SH   SOLE   345,808 0 0
Raytheon Technologies Corporat COM 75513E101 15,061 175,000 SH   SOLE   175,000 0 0
Regeneron Pharmaceuticals, Inc COM 75886F107 18,994 30,076 SH   SOLE   30,076 0 0
Republic Services, Inc. COM 760759100 73,197 524,895 SH   SOLE   524,895 0 0
Rogers Corporation COM 775133101 10,279 37,652 SH   SOLE   37,652 0 0
Royce Value Trust, Inc. COM 780910105 4,033 205,877 SH   SOLE   205,877 0 0
salesforce.com, inc. COM 79466L302 4,531 17,829 SH   SOLE   17,829 0 0
T-Mobile US, Inc. COM 872590104 27,597 237,950 SH   SOLE   237,950 0 0
Target Corporation COM 87612E106 30,307 130,951 SH   SOLE   130,951 0 0
TJX Companies, Inc./The COM 872540109 41,763 550,092 SH   SOLE   550,092 0 0
Tyler Technologies, Inc. COM 902252105 5,917 11,000 SH   SOLE   11,000 0 0
Universal Display Corporation COM 91347P105 11,224 68,009 SH   SOLE   68,009 0 0
Vale S.A. ADR COM 91912E105 2,804 200,000 SH   SOLE   200,000 0 0
VBI Vaccines, Inc. COM 91822J103 4,393 1,877,497 SH   SOLE   1,877,497 0 0
Venator Materials PLC COM G9329Z100 2,220 874,076 SH   SOLE   874,076 0 0
Walmart Inc. COM 931142103 13,766 95,140 SH   SOLE   95,140 0 0
Walt Disney Company /The COM 254687106 14,169 91,478 SH   SOLE   91,478 0 0
Vale S.A. Jan 15 Calls CALL 91912E105 28 200,000 SH   SOLE   200,000 0 0
Vale S.A. Mar 15 Calls CALL 91912E105 116 186,800 SH   SOLE   186,800 0 0