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
ALLEGHANY CORP DEL COM 017175100 4,673 9,553 SH   SOLE   6,138 0 3,415
ALPHABET INC CAP STK CL A 02079k305 60 42 SH   SOLE   0 0 42
ALPHABET INC CAP STK CL C 02079k107 12,441 8,801 SH   SOLE   5,709 0 3,092
BK OF AMERICA CORP COM 060505104 2,790 117,468 SH   SOLE   70,700 0 46,768
BARRICK GOLD CORPORATION COM 067901108 13,135 487,555 SH   SOLE   289,415 0 198,140
BARRICK GOLD CORPORATION COM 067901108 67 500 SH Call SOLE   500 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 14,455 80,974 SH   SOLE   49,071 0 31,903
BROOKFIELD ASSET MGMT INC CL A LTD VT SH 112585104 1,850 56,219 SH   SOLE   33,251 0 22,968
BUILDERS FIRSTSOURCE INC COM 12008r107 4,552 219,900 SH   SOLE   140,450 0 79,450
FEDERATED HERMES INC COM NEW 314211103 1,678 70,794 SH   SOLE   37,479 0 33,315
HESS MIDSTREAM LP CL A SHS 428103105 2,668 145,617 SH   SOLE   83,417 0 62,200
HP INC COM 40434l105 3,061 175,641 SH   SOLE   97,896 0 77,745
JEFFERIES FINANCIAL GROUP INC COM 47233w109 8,117 521,969 SH   SOLE   319,252 0 202,717
JPMORGAN CHASE & CO COM 46625h100 752 8,000 SH   SOLE   8,000 0 0
KKR & CO INC CL A 48251w104 2,370 76,750 SH   SOLE   48,050 0 28,700
LENNAR CORP CL B 526057302 3,888 84,346 SH   SOLE   56,346 0 28,000
MARKEL CORP COM 570535104 1,846 2,000 SH   SOLE   215 0 1,785
PROGRESSIVE CORP OHIO COM 743315103 2,411 30,100 SH   SOLE   18,375 0 11,725
SPECTRUM BRANDS HLDGS INC NE COM 84790a105 2,442 53,196 SH   SOLE   35,735 0 17,461
STORE CAP CORP COM 862121100 4,677 196,450 SH   SOLE   123,000 0 73,450
SYSTEMAX INC COM 871851101 1,410 68,651 SH   SOLE   43,935 0 24,716
VERIZON COMMUNICATIONS INC COM 92343v104 1,825 33,109 SH   SOLE   13,986 0 19,123
WPX ENERGY INC COM 98212b103 5,046 790,971 SH   SOLE   536,246 0 254,725
SPDR S&P 500 ETF TR TR UNIT 78462F103 211 845 SH Put SOLE   845 0 0