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 2,138 130,005 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 12,984 10,651 SH   SOLE NONE 2,200 0 8,451
AMERICAN INTL GROUP INC W EXP 01/19/2021 026874156 612 42,885 SH   SOLE NONE 22,900 0 19,985
AMERICAN INTL GROUP INC COM 026874784 19,470 349,543 SH   SOLE NONE 187,000 0 162,543
ASSURED GUARANTY LTD COM G0585R106 18,825 423,418 SH   SOLE NONE 179,000 0 244,418
ATHENE HLDG LTD CL A G0684d107 29,188 693,970 SH   SOLE NONE 276,000 0 417,970
AUTOZONE INC COM 053332102 22,396 20,649 SH   SOLE NONE 4,060 0 16,589
BERKSHIRE HATHAWAY INC CL B 084670702 974 4,684 SH   SOLE NONE 0 0 4,684
CAPITAL ONE FINL CORP COM 14040H105 12,676 139,328 SH   SOLE NONE 33,000 0 106,328
CHIMERA INVT CORP COM 16934Q109 19,783 1,011,388 SH   SOLE NONE 85,000 0 926,388
COCA COLA CO COM 191216100 739 13,569 SH   SOLE NONE 0 0 13,569
COMCAST CORP NEW CL A 20030n101 14,334 317,960 SH   SOLE NONE 60,000 0 257,960
CORECIVIC INC COM 21871n101 7,917 458,145 SH   SOLE NONE 80,000 0 378,145
CORTEVA INC COM 220521104 1,982 70,781 SH   SOLE NONE 13,333 0 57,448
CRAWFORD & CO CL A 224633206 2,718 249,777 SH   SOLE NONE 231,573 0 18,204
DARLING INGREDIENTS INC COM 237266101 8,690 454,250 SH   SOLE NONE 95,000 0 359,250
DUPONT DE NEMOURS INC COM 26614n102 5,055 70,882 SH   SOLE NONE 13,333 0 57,549
ENSTAR GROUP LIMITED SHS G3075p101 19,841 104,469 SH   SOLE NONE 50,000 0 54,469
EVEREST RE GROUP LTD COM G3223R108 2,927 11,000 SH   SOLE NONE 11,000 0 0
FIRST HORIZON NATL CORP COM 320517105 384 23,695 SH   SOLE NONE 0 0 23,695
GCI LIBERTY INC COM 36164v305 3,705 59,691 SH   SOLE NONE 15,000 0 44,691
GX ACQUISITION CORP UNIT EX 05/24/2026 36251a206 7,696 694,000 SH   SOLE NONE 147,500 0 546,500
HOME BANCSHARES INC COM 436893200 6,108 325,000 SH   SOLE NONE 0 0 325,000
ISHARES TR RUS 1000 ETF 464287622 576 3,500 SH   SOLE NONE 0 0 3,500
JERNIGAN CAP INC COM 476405105 8,894 462,050 SH   SOLE NONE 55,000 0 407,050
KKR & CO INC CL A 48251w104 350 13,040 SH   SOLE NONE 0 0 13,040
LIBERTY BROADBAND CORP COM SER C 530307305 12,516 119,575 SH   SOLE NONE 25,000 0 94,575
MGIC INVESTMENT CORP CORP 552848103 34,087 2,709,620 SH   SOLE NONE 1,230,000 0 1,479,620
MICROSOFT CORP CORP 594918104 287 2,062 SH   SOLE NONE 0 0 2,062
OLD REP INTL CORP COM 680223104 4,384 186,000 SH   SOLE NONE 92,000 0 94,000
REGIONS FINANCIAL CORP COM 7591EP100 304 19,235 SH   SOLE NONE 0 0 19,235
RENAISSANCE RE HOLDINGS LTD COM G7496G103 3,000 15,510 SH   SOLE NONE 15,500 0 10
RENEWABLE ENERGY GROUP COM 75972A301 11,463 763,972 SH   SOLE NONE 135,200 0 628,772
SELECT INTERIOR CONCEPTS INC CL A 816120307 3,413 263,127 SH   SOLE NONE 30,189 0 232,938
STARWOOD PPTY TR INC COM 85571B105 20,471 845,212 SH   SOLE NONE 120,106 0 725,106
STORE CAP CORP COM 862121100 7,951 212,525 SH   SOLE NONE 0 0 212,525
TORTOISE MLP FD INC COM 89148B101 7,323 595,881 SH   SOLE NONE 0 0 595,881
TRIUMPH BANCORP INC COM 89679E300 18,237 571,873 SH   SOLE NONE 70,000 0 501,873