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
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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 MD COM 017175100 7,751 9,234 SH   SOLE   9,234 0 0
AVALARA INC COM 05338G106 17,095 186,221 SH   SOLE   186,221 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 13,075 48,968 SH   SOLE   48,968 0 0
CARROLS RESTAURANT GROUP INC COM 14574X104 474 291,034 SH   SOLE   291,034 0 0
FARMER BROS CO COM 307675108 4,656 992,826 SH   SOLE   992,826 0 0
GRIFFON CORP COM 398433102 1,660 56,226 SH   SOLE   56,226 0 0
HILTON GRAND VACATIONS INC COM 43283X105 13,147 399,738 SH   SOLE   399,738 0 0
INDEPENDENCE HOLDINGS CORP UNIT 03/02/2026 G4761A119 8,436 850,000 SH   SOLE   850,000 0 0
KIRBY CORP COM 497266106 38,011 625,494 SH   SOLE   625,494 0 0
PZENA INVT MGMT INC CLASS A 74731Q103 1,336 140,981 SH   SOLE   140,981 0 0
SERITAGE GROWTH PPTYS CL A 81752R100 4,208 466,493 SH   SOLE   466,493 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 406 1,136 SH   SOLE   1,136 0 0
TANDY LEATHER FACTORY INC COM 87538X105 3,160 870,428 SH   SOLE   870,428 0 0
THE ONE GROUP HOSPITALITY IN COM 88338K103 4,064 612,000 SH   SOLE   612,000 0 0
UNITED NAT FOODS INC COM 911163103 12,075 351,322 SH   SOLE   351,322 0 0
WESTWOOD HLDGS GROUP INC COM 961765104 7,822 812,203 SH   SOLE   812,203 0 0
WHEELER REAL ESTATE INVT TR PFD CNV SER D 963025606 3,554 305,883 SH   SOLE   305,883 0 0