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 (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ADAMS DIVERSIFIED EQUITY FD COM 006212104 2,334 130,005 SH   SOLE NONE 0 0 130,005
ALPHABET INC CAP STK CL A 02079k107 15,826 9,034 SH   SOLE NONE 2,000 0 7,034
AMERICAN EXPRESS CO COM 025816109 8,652 71,562 SH   SOLE NONE 14,500 0 57,062
AMERICAN INTL GROUP INC COM 026874784 11,522 304,354 SH   SOLE NONE 161,000 0 143,354
APPLE INC COM 037833100 509 3,840 SH   SOLE NONE 0 0 3,840
ASSURED GUARANTY LTD COM G0585R106 2,834 90,000 SH   SOLE NONE 80,000 0 10,000
ATHENE HLDG LTD CL A G0684d107 25,900 600,368 SH   SOLE NONE 236,000 0 364,368
AUTOZONE INC COM 053332102 13,566 11,444 SH   SOLE NONE 2,000 0 9,444
BERKSHIRE HATHAWAY INC CL B 084670702 988 4,260 SH   SOLE NONE 0 0 4,260
CHIMERA INVT CORP COM 16934Q109 9,213 898,847 SH   SOLE NONE 76,500 0 822,347
COCA COLA CO COM 191216100 722 13,164 SH   SOLE NONE 0 0 13,164
COMCAST CORP NEW CL A 20030n101 15,064 287,490 SH   SOLE NONE 54,000 0 233,490
CORECIVIC INC COM 21871n101 4,643 708,860 SH   SOLE NONE 144,000 0 564,860
CORTEVA INC COM 220521104 1,604 41,414 SH   SOLE NONE 0 0 41,414
CRAWFORD & CO CL A 224633206 950 128,507 SH   SOLE NONE 121,507 0 7,000
DANIMER SCIENTIFIC INC COM CL A 236272100 25,411 1,080,850 SH   SOLE NONE 229,000 0 851,850
DARLING INGREDIENTS INC COM 237266101 38,216 662,560 SH   SOLE NONE 145,000 0 517,560
DUPONT DE NEMOURS INC COM 26614n102 2,670 37,548 SH   SOLE NONE 0 0 37,548
ENSTAR GROUP LIMITED SHS G3075p101 19,986 97,547 SH   SOLE NONE 55,700 0 41,847
ESSENT GROUP LTD COM G3198U102 7,560 174,990 SH   SOLE NONE 77,000 0 97,990
EVEREST RE GROUP LTD COM G3223R108 2,575 11,000 SH   SOLE NONE 11,000 0 0
FIRST HORIZON NATL CORP COM 320517105 293 22,995 SH   SOLE NONE 0 0 22,995
HOME BANCSHARES INC COM 436893200 1,558 80,000 SH   SOLE NONE 0 0 80,000
LIBERTY BROADBAND CORP COM SER C 530307305 21,353 134,830 SH   SOLE NONE 31,200 0 103,630
MGIC INVESTMENT CORP CORP 552848103 32,972 2,627,282 SH   SOLE NONE 1,308,212 0 1,319,070
MICROSOFT CORP CORP 594918104 470 2,112 SH   SOLE NONE 0 0 2,112
NMI HOLDINGS INC CL A 629209305 1,042 46,010 SH   SOLE NONE 0 0 46,010
OLD REP INTL CORP COM 680223104 7,488 379,900 SH   SOLE NONE 120,000 0 259,900
PROGRESSIVE CORP OHIO COM 743315103 13,529 136,818 SH   SOLE NONE 63,500 0 73,318
REGIONS FINANCIAL CORP COM 7591EP100 310 19,235 SH   SOLE NONE 0 0 19,235
RENAISSANCE RE HOLDINGS LTD COM G7496G103 2,572 15,510 SH   SOLE NONE 15,500 0 10
SELECT INTERIOR CONCEPTS INC CL A 816120307 702 98,196 SH   SOLE NONE 0 0 98,196
STARWOOD PPTY TR INC COM 85571B105 14,273 739,530 SH   SOLE NONE 108,000 0 631,530
STORE CAP CORP COM 862121100 5,947 175,025 SH   SOLE NONE 0 0 175,025
TRAVELERS GROUP INC COM 894190107 1,825 13,000 SH   SOLE NONE 13,000 0 0
TRIUMPH BANCORP INC COM 89679E300 22,172 456,675 SH   SOLE NONE 63,000 0 393,675
VERISIGN INC COM 94343E102 6,967 32,194 SH   SOLE NONE 7,900 0 24,294