This is not a Trimble machine data set I don't believe - our 3D systems log the data in TAG files and we use our VisionLink system production Server to do exactly this and we can extract Highest, Lowest, First and Last Pass as well as filter to closest to a design surface.
This type of data - all you have really is what looks like Date and Time which doesn't in itself really help you - you could open in Excel and sort by Date / Time and then by coordinate and Elevation - however that will I think be "Hit and Miss"
It would be possible to create a "processor" for this type of data that used the Date and Time field and read the data in against a User Defined Grid and when a new point gets added to a Grid Square update the values in the Grid and log the First, Last, Highest, Lowest etc values in each square so that you could extract something meaningful - do you have the source data and can you tell me what machine system this is coming from?
If solving this problem is critical for you, I can find a developer outside Trimble to look at solving this issue for you - let me know if that is of interest to you - it is likely a good application for a TML Macro for TBC.
Alan