Instuitional Investor - Lagoda Investment Management, L.p.

13F Holdings

Filing Period:

No.	Security	Ticker	Shares	Value	% Port
1.	Texas Pacific Land Corp	TPL	170,172	$29,731,885	20.23%
2.	Digimarc Corp	DMRC	656,450	$23,710,974	16.13%
3.	Ptc Inc.	PTC	61,645	$10,785,409	7.34%
4.	Natera Inc.	NTRA	136,845	$8,571,971	5.83%
5.	Xpo Inc.	XPO	91,255	$7,993,025	5.44%