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
ALPHABET INC CAP STK CL C 02079K107 197,502 574 SH DFND 574 0 0
Alphabet, Inc. CAP STK CL A 02079K305 14,588,992 42,400 SH DFND 42,400 0 0
Alphabet, Inc. CAP STK CL A 02079K305 22,606,056 65,700 SH DFND 1 65,700 0 0
Aura Minerals, Inc. SHS NEW G06973112 2,753,800 35,000 SH DFND 35,000 0 0
B2Gold Corporation COM 11777Q209 2,479,500 475,000 SH DFND 475,000 0 0
Berkshire Hathaway, Inc. CL B NEW 084670702 1,244,875 2,500 SH DFND 2,500 0 0
Build-A-Bear Workshop, Inc. COM 120076104 413,655 16,500 SH DFND 16,500 0 0
Clear Secure, Inc. COM CL A 18467V109 590,698 14,081 SH DFND 14,081 0 0
Clear Secure, Inc. COM CL A 18467V109 11,538,515 275,054 SH DFND 1 275,054 0 0
CUBESMART COM 229663109 526,120 14,000 SH DFND 14,000 0 0
DILLARDS INC CL A 254067101 166,158 248 SH DFND 248 0 0
Dillard's, Inc. CL A 254067101 663,290 990 SH DFND 990 0 0
Dillard's, Inc. CL A 254067101 13,600,797 20,300 SH DFND 1 20,300 0 0
Duolingo, Inc. CL A COM 26603R106 490,568 3,445 SH DFND 3,445 0 0
Duolingo, Inc. CL A COM 26603R106 11,037,282 77,509 SH DFND 1 77,509 0 0
EAGLE CAP GROWTH FD INC COM 269451100 1,001 100 SH DFND 1 100 0 0
Essent Group Ltd. COM G3198U102 579,100 10,000 SH DFND 10,000 0 0
Essent Group Ltd. COM G3198U102 11,582,000 200,000 SH DFND 1 200,000 0 0
EverQuote, Inc. COM CL A 30041R108 649,944 32,400 SH DFND 32,400 0 0
EXCHANGE LISTED FDS TR SABA OPPORTUNIST 30151E806 2,452 100 SH DFND 1 100 0 0
EXTRA SPACE STORAGE INC COM 30225T102 1,318,651 10,027 SH DFND 10,027 0 0
FIRSTHAND TECHNOLOGY VALUE F COM 33766Y100 1 100 SH DFND 1 100 0 0
GLOBAL SELF STORAGE INC COM 37955N106 663,346 135,101 SH DFND 135,101 0 0
GLOBAL SELF STORAGE INC COM 37955N106 1,491,452 303,758 SH DFND 303,758 0 0
GLOBAL SELF STORAGE INC COM 37955N106 1,121,994 228,512 SH SOLE 228,512 0 0
HIGH INCOME SECURITIES FUND SHS BEN INT 42968F108 516 100 SH DFND 1 100 0 0
IAMGOLD Corporation COM 450913108 2,761,500 150,000 SH DFND 150,000 0 0
IAMGOLD Corporation COM 450913108 19,146,400 1,040,000 SH DFND 1 1,040,000 0 0
Interactive Brokers Group, Inc. COM CL A 45841N107 1,503,392 17,600 SH DFND 17,600 0 0
Interactive Brokers Group, Inc. COM CL A 45841N107 25,967,680 304,000 SH DFND 1 304,000 0 0
iShares Silver Trust ISHARES 46428Q109 821,466 15,070 SH DFND 15,070 0 0
JPMorgan Chase & Company COM 46625H100 2,249,644 6,800 SH DFND 6,800 0 0
Kinross Gold Corporation COM 496902404 1,649,480 68,500 SH DFND 68,500 0 0
Lam Research Corporation COM NEW 512807306 3,942,120 12,000 SH DFND 12,000 0 0
Lam Research Corporation COM NEW 512807306 31,865,470 97,000 SH DFND 1 97,000 0 0
LPL Financial Holdings, Inc. COM 50212V100 14,219,700 46,500 SH DFND 1 46,500 0 0
Mastercard, Inc. CL A 57636Q104 5,514,700 10,000 SH DFND 10,000 0 0
McEwen Mining, Inc. COM NEW 58039P305 1,740,375 97,500 SH DFND 97,500 0 0
MediaAlpha, Inc. CL A 58450V104 623,026 65,102 SH DFND 65,102 0 0
Meta Platforms, Inc. CL A 30303M102 833,957 1,150 SH DFND 1,150 0 0
Meta Platforms, Inc. CL A 30303M102 12,581,873 17,350 SH DFND 1 17,350 0 0
MEXICO EQUITY & INCOME FD COM 592834105 1,249 100 SH DFND 1 100 0 0
MICROSOFT CORP COM 594918104 397,498 775 SH DFND 775 0 0
Microsoft Corporation COM 594918104 2,308,050 4,500 SH DFND 4,500 0 0
Microsoft Corporation COM 594918104 17,695,050 34,500 SH DFND 1 34,500 0 0
Mueller Industries, Inc. COM 624756102 606,100 10,000 SH DFND 10,000 0 0
Mueller Industries, Inc. COM 624756102 19,564,908 322,800 SH DFND 1 322,800 0 0
NerdWallet, Inc. COM CL A 64082B102 614,600 70,000 SH DFND 70,000 0 0
NMI Holdings, Inc. COM 629209305 629,551 16,869 SH DFND 16,869 0 0
NMI Holdings, Inc. COM 629209305 14,152,714 379,226 SH DFND 1 379,226 0 0
Nutex Health, Inc. COM 67079U306 709,061 3,350 SH DFND 3,350 0 0
Nutex Health, Inc. COM 67079U306 13,122,920 62,000 SH DFND 1 62,000 0 0
PROGRESSIVE CORP COM 743315103 207,310 1,000 SH DFND 1,000 0 0
PUBLIC STORAGE COM 74460D109 480,828 1,700 SH DFND 1,700 0 0
Qualys, Inc. COM 74758T303 1,901,578 10,158 SH DFND 10,158 0 0
Qualys, Inc. COM 74758T303 14,692,018 78,483 SH DFND 1 78,483 0 0
Royal Gold, Inc. COM 780287108 1,982,400 8,400 SH DFND 8,400 0 0
SABA CAPITAL INCOME & OPPORT COM NEW 880198205 135 17 SH DFND 1 17 0 0
SABA CAPITAL INCOME & OPRNT SHS NEW 78518H202 601 100 SH DFND 1 100 0 0
SPDR Gold Shares GOLD SHS 78463V107 1,252,964 3,290 SH DFND 3,290 0 0
SPECIAL OPPORTUNITIES FD INC 2.75% CNV PFD C A 84741T401 4,960 200 SH DFND 1 200 0 0
SPECIAL OPPORTUNITIES FD INC COM 84741T104 1,264 100 SH DFND 1 100 0 0
SSR Mining, Inc. COM 784730103 3,165,400 95,000 SH DFND 95,000 0 0
STEEL DYNAMICS INC COM 858119100 187,704 847 SH DFND 847 0 0
Steel Dynamics, Inc. COM 858119100 1,750,719 7,900 SH DFND 7,900 0 0
Steel Dynamics, Inc. COM 858119100 35,457,600 160,000 SH DFND 1 160,000 0 0
TOTAL RETURN SECURITIES FUND COM 870875101 570 100 SH DFND 1 100 0 0
UNITED RENTALS INC COM 911363109 174,136 174 SH DFND 174 0 0
United Rentals, Inc. COM 911363109 735,573 735 SH DFND 735 0 0
United Rentals, Inc. COM 911363109 14,511,310 14,500 SH DFND 1 14,500 0 0
UnitedHealth Group, Inc. COM 91324P102 4,955,580 13,500 SH DFND 1 13,500 0 0
Wheaton Precious Metals Corporation COM 962879102 2,233,124 16,700 SH DFND 16,700 0 0
Williams-Sonoma, Inc. COM 969904101 2,963,220 13,000 SH DFND 13,000 0 0
Williams-Sonoma, Inc. COM 969904101 21,882,240 96,000 SH DFND 1 96,000 0 0