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
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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AMGEN INC COM 031162100   13,027,918 48,474 SH   SOLE 0 0 0 48,474
APA CORPORATION COM 03743Q108   1,363,018 33,163 SH   SOLE 0 0 0 33,163
APPLE INC COM 037833100   337,904 1,974 SH   SOLE 0 0 0 1,974
ARCOS DORADOS HOLDINGS INC SHS CLASS -A - G0457F107   4,714,300 498,340 SH   SOLE 0 0 0 498,340
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702   8,316,472 23,741 SH   SOLE 0 0 0 23,741
BGC GROUP INC CL A 088929104   7,896,902 1,495,625 SH   SOLE 0 0 0 1,495,625
CHEVRON CORP NEW COM 166764100   209,763 1,244 SH   SOLE 0 0 0 1,244
COMCAST CORP NEW CL A 20030N101   266,350 6,007 SH   SOLE 0 0 0 6,007
CORNING INC COM 219350105   9,006,050 295,571 SH   SOLE 0 0 0 295,571
DISNEY WALT CO COM 254687106   217,943 2,689 SH   SOLE 0 0 0 2,689
DONNELLEY FINL SOLUTIONS INC COM 25787G100   12,293,240 218,430 SH   SOLE 0 0 0 218,430
EXXON MOBIL CORP COM 30231G102   2,076,580 17,661 SH   SOLE 0 0 0 17,661
FIVE POINT HOLDINGS LLC COM CL A 33833Q106   4,526,791 1,524,172 SH   SOLE 0 0 0 1,524,172
GRAFTECH INTL LTD COM 384313508   5,877,789 1,534,671 SH   SOLE 0 0 0 1,534,671
ILLINOIS TOOL WKS INC COM 452308109   216,491 940 SH   SOLE 0 0 0 940
JOHNSON & JOHNSON COM 478160104   637,796 4,095 SH   SOLE 0 0 0 4,095
JPMORGAN CHASE & CO COM 46625H100   686,090 4,731 SH   SOLE 0 0 0 4,731
KIMCO RLTY CORP COM 49446R109   6,418,785 364,911 SH   SOLE 0 0 0 364,911
LAZARD LTD SHS A G54050102   6,626,507 213,689 SH   SOLE 0 0 0 213,689
LLOYDS BANKING GROUP PLC SPONSORED ADR 539439109   63,906 30,003 SH   SOLE 0 0 0 30,003
LOEWS CORP COM 540424108   10,516,368 166,109 SH   SOLE 0 0 0 166,109
M & T BK CORP COM 55261F104   5,002,488 39,561 SH   SOLE 0 0 0 39,561
MCDONALDS CORP COM 580135101   348,531 1,323 SH   SOLE 0 0 0 1,323
MERCK & CO INC COM 58933Y105   382,511 3,716 SH   SOLE 0 0 0 3,716
MICROSOFT CORP COM 594918104   372,585 1,180 SH   SOLE 0 0 0 1,180
NVIDIA CORPORATION COM 67066G104   39,001,629 89,661 SH   SOLE 0 0 0 89,661
PAYCHEX INC COM 704326107   1,015,711 8,807 SH   SOLE 0 0 0 8,807
PFIZER INC COM 717081103   295,810 8,918 SH   SOLE 0 0 0 8,918
PHILIP MORRIS INTL INC COM 718172109   225,617 2,437 SH   SOLE 0 0 0 2,437
PHILLIPS 66 COM 718546104   2,905,247 24,180 SH   SOLE 0 0 0 24,180
PROCTER AND GAMBLE CO COM 742718109   394,989 2,708 SH   SOLE 0 0 0 2,708
QUALCOMM INC COM 747525103   14,901,515 134,175 SH   SOLE 0 0 0 134,175
QUEST DIAGNOSTICS INC COM 74834L100   304,650 2,500 SH   SOLE 0 0 0 2,500
ROCKWELL AUTOMATION INC COM 773903109   228,696 800 SH   SOLE 0 0 0 800
SPHERE ENTERTAINMENT CO CL A 55826T102   5,986,476 161,100 SH   SOLE 0 0 0 161,100
STEPAN CO COM 858586100   4,424,874 59,022 SH   SOLE 0 0 0 59,022
TANGER FACTORY OUTLET CTRS I COM 875465106   8,899,855 393,799 SH   SOLE 0 0 0 393,799
TRI POINTE HOMES INC COM 87265H109   6,252,046 228,594 SH   SOLE 0 0 0 228,594
TRINITY PL HLDGS INC COM 89656D101   161,151 441,509 SH   SOLE 0 0 0 441,509
UNION PAC CORP COM 907818108   2,380,842 11,692 SH   SOLE 0 0 0 11,692
UNITEDHEALTH GROUP INC COM 91324P102   201,676 400 SH   SOLE 0 0 0 400
WARNER BROS DISCOVERY INC COM SER A 934423104   8,123,019 747,976 SH   SOLE 0 0 0 747,976
WARRIOR MET COAL INC COM 93627C101   13,310,175 260,575 SH   SOLE 0 0 0 260,575
WEYERHAEUSER CO MTN BE COM NEW 962166104   9,324,680 304,132 SH   SOLE 0 0 0 304,132