Hi, nostr:npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l , I see from your LP letter TPL is still one of your bigger holdings.

2 things I’d love to get your thoughts on: besides BTC it is my second largest holding. I feel it’s gotten over its skis a little in terms of multiple. I still feel it’s a forever asset (side thoughts on that?); can you talk me off the “I’m going to sell it and buy it back cheaper” ledge please! Or do you have a different view?

I also “took a flyer” (I did read the IPO documents) on the Landbridge IPO. Not right at the IPO price but soon after. Have you looked at LB to any degree? Any thoughts? Less O&G royalty revenue as you know. But I do like that the surface holdings are more contiguous than TPL’s generally. Seems to offer more optionality for industrial opportunities.

Any thoughts appreciated!