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   13,924,319 48,345 SH   SOLE 0 0 0 48,345
APA CORPORATION COM 03743Q108   1,106,417 30,837 SH   SOLE 0 0 0 30,837
APPLE INC COM 037833100   527,124 2,738 SH   SOLE 0 0 0 2,738
APPLIED MATLS INC COM 038222105   549,741 3,392 SH   SOLE 0 0 0 3,392
ARCOS DORADOS HOLDINGS INC SHS CLASS -A - G0457F107   6,311,204 497,337 SH   SOLE 0 0 0 497,337
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702   8,634,382 24,209 SH   SOLE 0 0 0 24,209
BGC GROUP INC CL A 088929104   10,924,817 1,513,133 SH   SOLE 0 0 0 1,513,133
BRISTOL-MYERS SQUIBB CO COM 110122108   234,487 4,570 SH   SOLE 0 0 0 4,570
CHEVRON CORP NEW COM 166764100   202,858 1,360 SH   SOLE 0 0 0 1,360
COMCAST CORP NEW CL A 20030N101   288,182 6,572 SH   SOLE 0 0 0 6,572
CORNING INC COM 219350105   9,055,513 297,390 SH   SOLE 0 0 0 297,390
DONNELLEY FINL SOLUTIONS INC COM 25787G100   13,675,995 219,272 SH   SOLE 0 0 0 219,272
EXXON MOBIL CORP COM 30231G102   2,104,479 21,049 SH   SOLE 0 0 0 21,049
FIVE POINT HOLDINGS LLC COM CL A 33833Q106   4,754,076 1,548,559 SH   SOLE 0 0 0 1,548,559
GRAFTECH INTL LTD COM 384313508   3,416,049 1,559,840 SH   SOLE 0 0 0 1,559,840
ILLINOIS TOOL WKS INC COM 452308109   246,224 940 SH   SOLE 0 0 0 940
JOHNSON & JOHNSON COM 478160104   617,399 3,939 SH   SOLE 0 0 0 3,939
JPMORGAN CHASE & CO COM 46625H100   841,315 4,946 SH   SOLE 0 0 0 4,946
KIMCO RLTY CORP COM 49446R109   7,659,244 359,420 SH   SOLE 0 0 0 359,420
LAZARD LTD SHS A G54050102   7,086,508 203,635 SH   SOLE 0 0 0 203,635
LLOYDS BANKING GROUP PLC SPONSORED ADR 539439109   80,641 33,741 SH   SOLE 0 0 0 33,741
LOEWS CORP COM 540424108   11,524,371 165,604 SH   SOLE 0 0 0 165,604
M & T BK CORP COM 55261F104   5,509,382 40,191 SH   SOLE 0 0 0 40,191
MCDONALDS CORP COM 580135101   400,882 1,352 SH   SOLE 0 0 0 1,352
MERCK & CO INC COM 58933Y105   405,064 3,716 SH   SOLE 0 0 0 3,716
MICROSOFT CORP COM 594918104   474,562 1,262 SH   SOLE 0 0 0 1,262
NVIDIA CORPORATION COM 67066G104   44,309,350 89,474 SH   SOLE 0 0 0 89,474
PAYCHEX INC COM 704326107   1,049,002 8,807 SH   SOLE 0 0 0 8,807
PFIZER INC COM 717081103   444,345 15,434 SH   SOLE 0 0 0 15,434
PHILIP MORRIS INTL INC COM 718172109   258,250 2,745 SH   SOLE 0 0 0 2,745
PHILLIPS 66 COM 718546104   3,223,076 24,208 SH   SOLE 0 0 0 24,208
PROCTER AND GAMBLE CO COM 742718109   557,731 3,806 SH   SOLE 0 0 0 3,806
QUALCOMM INC COM 747525103   18,923,981 130,844 SH   SOLE 0 0 0 130,844
QUEST DIAGNOSTICS INC COM 74834L100   344,700 2,500 SH   SOLE 0 0 0 2,500
ROCKWELL AUTOMATION INC COM 773903109   496,768 1,600 SH   SOLE 0 0 0 1,600
SPHERE ENTERTAINMENT CO CL A 55826T102   5,580,239 164,318 SH   SOLE 0 0 0 164,318
STEPAN CO COM 858586100   5,459,603 57,743 SH   SOLE 0 0 0 57,743
TANGER INC COM 875465106   10,673,283 385,039 SH   SOLE 0 0 0 385,039
TRI POINTE HOMES INC COM 87265H109   8,126,955 229,575 SH   SOLE 0 0 0 229,575
TRINITY PL HLDGS INC COM 89656D101   48,501 436,946 SH   SOLE 0 0 0 436,946
UNION PAC CORP COM 907818108   2,955,326 12,032 SH   SOLE 0 0 0 12,032
UNITEDHEALTH GROUP INC COM 91324P102   210,588 400 SH   SOLE 0 0 0 400
WARNER BROS DISCOVERY INC COM SER A 934423104   8,539,154 750,365 SH   SOLE 0 0 0 750,365
WARRIOR MET COAL INC COM 93627C101   15,943,548 261,498 SH   SOLE 0 0 0 261,498
WEYERHAEUSER CO MTN BE COM NEW 962166104   10,527,409 302,773 SH   SOLE 0 0 0 302,773