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
Expires: July 31, 2015
Estimated average burden
hours per response: 23.8
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
AMAZON COM INC COM 023135106 238,340 1,000 SH SOLE 0 1,000 0 0
ARS PHARMACEUTICALS INC COM 82835W108 2,991,663 373,491 SH SOLE 0 1,477 0 372,014
BAXTER INTL INC COM 071813109 19,205,970 900,843 SH SOLE 0 3,829 0 897,014
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 416,324 832 SH SOLE 0 702 0 130
BLACK STONE MINERALS L P COM UNIT 09225M101 25,819,124 1,848,184 SH SOLE 0 5,632 0 1,842,552
BRITISH AMERN TOB PLC SPONSORED ADR 110448107 16,826,934 272,457 SH SOLE 0 838 0 271,619
CACI INTL INC CL A 127190304 3,430,904 7,406 SH SOLE 0 32 0 7,374
CANADIAN NAT RES LTD MED TER COM 136385101 13,824,993 350,000 SH SOLE 0 745 0 349,255
DIAGEO PLC SPON ADR NEW 25243Q205 328,031 4,081 SH SOLE 0 0 0 4,081
ENTERPRISE PRODS PARTNERS L COM 293792107 19,296,832 524,941 SH SOLE 0 1,746 0 523,195
HUNTINGTON INGALLS INDS INC COM 446413106 32,125,873 114,780 SH SOLE 0 387 0 114,393
INNOVEX INTERNATIONAL INC COM 457651107 15,005,042 605,042 SH SOLE 0 2,080 0 602,962
INVESCO QQQ TR UNIT SER 1 46090E103 33,800,760 45,900 SH Put SOLE 0 100 0 45,800
ISHARES TR 20 YR TR BD ETF 464287432 23,497,598 271,900 SH Put SOLE 0 0 0 271,900
ISHARES TR ISHARES SEMICDTR 464287523 21,593,612 33,700 SH Put SOLE 0 100 0 33,600
ISHARES TR 20 YR TR BD ETF 464287432 14,803,746 171,300 SH Put SOLE 0 0 0 171,300
ISHARES TR TRUST ISHARE 0-1 464288679 4,510,488 40,874 SH SOLE 0 0 0 40,874
KONINKLIJKE PHILIPS N V NY REGIS SHS NEW 500472303 23,366,517 859,379 SH SOLE 0 3,060 0 856,319
LIBERTY BROADBAND CORP COM SER C 530307305 15,842,204 476,314 SH SOLE 0 1,645 0 474,669
MCKESSON CORP COM 58155Q103 8,083,267 10,698 SH SOLE 0 37 0 10,661
MOLINA HEALTHCARE INC COM 60855R100 52,660,005 230,258 SH SOLE 0 853 0 229,405
NU HLDGS LTD ORD SHS CL A G6683N103 16,780,400 1,256,018 SH SOLE 0 5,052 0 1,250,966
NVIDIA CORPORATION COM 67066G104 200,090 1,000 SH SOLE 0 0 0 1,000
NVIDIA CORPORATION COM 67066G104 200,090 1,000 SH Put SOLE 0 0 0 1,000
PHILIP MORRIS INTL INC COM 718172109 20,726,220 114,566 SH SOLE 0 348 0 114,218
SCHWAB STRATEGIC TR US DIVIDEND EQ 808524797 223,429 7,046 SH SOLE 0 0 0 7,046
SOLVENTUM CORP COM SHS 83444M101 8,132,922 105,417 SH SOLE 0 852 0 104,565
TRIUMPH FINANCIAL INC COM 89679E300 27,002,370 353,851 SH SOLE 0 1,300 0 352,551
UBER TECHNOLOGIES INC COM 90353T100 35,055,689 485,805 SH SOLE 0 1,717 0 484,088
VANECK ETF TRUST GOLD MINERS ETF 92189F106 264,075 3,500 SH SOLE 0 0 0 3,500
WISE GROUP PLC ORD SHS CLASS A G9723Y105 11,619,110 975,576 SH SOLE 0 5,948 0 969,628
WORLD GOLD TR SPDR GLD MINIS 98149E303 19,521,118 245,796 SH SOLE 0 903 0 244,893