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 2,011 130,005 SH   SOLE NONE 0 0 130,005
AIR LEASE CORP CL A 00912X302 15,590 377,130 SH   SOLE NONE 85,000 0 292,130
ALPHABET INC CAP STK CL A 02079k107 11,247 10,405 SH   SOLE NONE 2,200 0 8,205
AMERICAN INTL GROUP INC W EXP 01/19/2021 026874156 507 41,385 SH   SOLE NONE 22,900 0 18,485
AMERICAN INTL GROUP INC COM 026874784 18,370 344,779 SH   SOLE NONE 187,000 0 157,779
ASSURED GUARANTY LTD COM G0585R106 17,469 415,148 SH   SOLE NONE 179,000 0 236,148
ATHENE HLDG LTD CL A G0684d107 29,280 679,993 SH   SOLE NONE 276,000 0 403,993
AUTOZONE INC COM 053332102 22,631 20,584 SH   SOLE NONE 4,060 0 16,524
BERKSHIRE HATHAWAY INC CL B 084670702 908 4,261 SH   SOLE NONE 0 0 4,261
CAPITAL ONE FINL CORP COM 14040H105 12,392 136,565 SH   SOLE NONE 33,000 0 103,565
CHIMERA INVT CORP COM 16934Q109 18,440 977,222 SH   SOLE NONE 85,000 0 892,222
COCA COLA CO COM 191216100 691 13,569 SH   SOLE NONE 0 0 13,569
COMCAST CORP NEW CL A 20030n101 13,164 311,360 SH   SOLE NONE 60,000 0 251,360
CORECIVIC INC COM 21871n101 9,325 449,180 SH   SOLE NONE 80,000 0 369,180
CORTEVA INC COM 220521104 2,039 68,949 SH   SOLE NONE 13,333 0 55,616
CRAWFORD & CO CL A 224633206 2,916 276,954 SH   SOLE NONE 260,000 0 16,954
DARLING INGREDIENTS INC COM 237266101 8,676 436,180 SH   SOLE NONE 95,000 0 341,180
DOW INC COM 260557103 3,419 69,329 SH   SOLE NONE 13,333 0 55,996
DUPONT DE NEMOURS INC COM 26614n102 5,176 68,950 SH   SOLE NONE 13,333 0 55,617
ENSTAR GROUP LIMITED SHS G3075p101 17,748 101,834 SH   SOLE NONE 50,000 0 51,834
EVEREST RE GROUP LTD COM G3223R108 2,719 11,000 SH   SOLE NONE 11,000 0 0
FIRST HORIZON NATL CORP COM 320517105 354 23,695 SH   SOLE NONE 0 0 23,695
GCI LIBERTY INC COM 36164v305 3,551 57,771 SH   SOLE NONE 15,000 0 42,771
GX ACQUISITION CORP UNIT EX 05/24/2026 36251a206 6,755 672,100 SH   SOLE NONE 147,500 0 524,600
HOME BANCSHARES INC COM 436893200 8,108 420,982 SH   SOLE NONE 0 0 420,982
ISHARES TR RUS 1000 ETF 464287622 570 3,500 SH   SOLE NONE 0 0 3,500
JERNIGAN CAP INC COM 476405105 9,196 448,600 SH   SOLE NONE 55,000 0 393,600
KKR & CO INC CL A 48251w104 220 8,690 SH   SOLE NONE 0 0 8,690
LIBERTY BROADBAND CORP COM SER C 530307305 12,246 117,500 SH   SOLE NONE 25,000 0 92,500
MGIC INVESTMENT CORP CORP 552848103 34,983 2,662,320 SH   SOLE NONE 1,230,000 0 1,432,320
MICROSOFT CORP CORP 594918104 276 2,062 SH   SOLE NONE 0 0 2,062
OLD REP INTL CORP COM 680223104 4,073 182,000 SH   SOLE NONE 92,000 0 90,000
REGIONS FINANCIAL CORP COM 7591EP100 287 19,235 SH   SOLE NONE 0 0 19,235
RENAISSANCE RE HOLDINGS LTD COM G7496G103 2,763 15,520 SH   SOLE NONE 15,500 0 20
SELECT INTERIOR CONCEPTS INC CL A 816120307 4,922 422,500 SH   SOLE NONE 99,386 0 323,114
STARWOOD PPTY TR INC COM 85571B105 18,643 820,544 SH   SOLE NONE 120,106 0 700,438
STORE CAP CORP COM 862121100 6,816 205,375 SH   SOLE NONE 0 0 205,375
TORTOISE MLP FD INC COM 89148B101 5,802 430,080 SH   SOLE NONE 0 0 430,080
TRIUMPH BANCORP INC COM 89679E300 16,149 555,918 SH   SOLE NONE 70,000 0 485,918