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 2,669 135,005 SH   SOLE NONE 0 0 135,005
ALPHABET INC CAP STK CL A 02079k107 21,720 8,666 SH   SOLE NONE 2,000 0 6,666
AMERICAN EXPRESS CO COM 025816109 11,456 69,332 SH   SOLE NONE 14,500 0 54,832
AMERICAN INTL GROUP INC COM 026874784 14,110 296,429 SH   SOLE NONE 161,000 0 135,429
APPLE INC COM 037833100 550 4,018 SH   SOLE NONE 0 0 4,018
ASSURED GUARANTY LTD COM G0585R106 3,798 80,000 SH   SOLE NONE 80,000 0 0
ATHENE HLDG LTD CL A G0684d107 39,090 579,118 SH   SOLE NONE 236,000 0 343,118
AUTOZONE INC COM 053332102 16,622 11,139 SH   SOLE NONE 2,000 0 9,139
BERKSHIRE HATHAWAY INC CL B 084670702 1,184 4,260 SH   SOLE NONE 0 0 4,260
BRIGHAM MINERALS INC COM CL A 10918L103 8,771 411,960 SH   SOLE NONE 0 0 411,960
COCA COLA CO COM 191216100 712 13,164 SH   SOLE NONE 0 0 13,164
COMCAST CORP NEW CL A 20030n101 15,615 273,850 SH   SOLE NONE 54,000 0 219,850
CORTEVA INC COM 220521104 1,784 40,224 SH   SOLE NONE 0 0 40,224
CRAWFORD & CO CL A 224633206 1,166 128,507 SH   SOLE NONE 121,507 0 7,000
DANIMER SCIENTIFIC INC COM CL A 236272100 7,197 287,295 SH   SOLE NONE 58,000 0 229,295
DARLING INGREDIENTS INC COM 237266101 44,712 662,405 SH   SOLE NONE 160,000 0 502,405
DUPONT DE NEMOURS INC COM 26614n102 1,306 16,871 SH   SOLE NONE 0 0 16,871
ENSTAR GROUP LIMITED SHS G3075p101 23,306 97,547 SH   SOLE NONE 55,700 0 41,847
ESSENT GROUP LTD COM G3198U102 7,877 175,240 SH   SOLE NONE 77,000 0 98,240
EVEREST RE GROUP LTD COM G3223R108 2,772 11,000 SH   SOLE NONE 11,000 0 0
FACEBOOK INC CL A 30303M102 290 833 SH   SOLE NONE 0 0 833
FIRST HORIZON NATL CORP COM 320517105 397 22,995 SH   SOLE NONE 0 0 22,995
HOME BANCSHARES INC COM 436893200 1,234 50,000 SH   SOLE NONE 0 0 50,000
INTERNATIONAL FLAVORS&FRAGRA COM 459506101 1,815 12,149 SH   SOLE NONE 0 0 12,149
JP MORGAN CHASE& CO COM 46625H100 207 1,333 SH   SOLE NONE 0 0 1,333
LENNAR CORP CL B 526057302 289 3,550 SH   SOLE NONE 3,550 0 0
LIBERTY BROADBAND CORP COM SER C 530307305 22,483 129,465 SH   SOLE NONE 31,200 0 98,265
MGIC INVESTMENT CORP CORP 552848103 35,061 2,577,982 SH   SOLE NONE 1,308,212 0 1,269,770
MICROSOFT CORP CORP 594918104 572 2,112 SH   SOLE NONE 0 0 2,112
NMI HOLDINGS INC CL A 629209305 650 28,910 SH   SOLE NONE 0 0 28,910
OLD REP INTL CORP COM 680223104 9,371 376,200 SH   SOLE NONE 120,000 0 256,200
PAYPAL HLDGS INC COM 70450Y103 267 917 SH   SOLE NONE 0 0 917
PINNACLE FINL PARTNERS COM 72346Q104 203 2,300 SH   SOLE NONE 0 0 2,300
PINTEREST INC CL A 723521106 421 5,333 SH   SOLE NONE 0 0 5,333
PROGRESSIVE CORP OHIO COM 743315103 13,474 137,193 SH   SOLE NONE 63,500 0 73,693
REGIONS FINANCIAL CORP COM 7591EP100 388 19,235 SH   SOLE NONE 0 0 19,235
RENAISSANCE RE HOLDINGS LTD COM G7496G103 2,308 15,510 SH   SOLE NONE 15,500 0 10
RICE ACQUISITION CORP COM CL A 762594109 6,075 336,590 SH   SOLE NONE 0 0 336,590
RICE ACQUISITION CORP II UNIT 99/99/9999 G75529118 5,673 555,091 SH   SOLE NONE 110,600 0 444,491
SELECT INTERIOR CONCEPTS INC CL A 816120307 923 98,196 SH   SOLE NONE 0 0 98,196
STARBUCKS CORP COM 855244109 276 2,466 SH   SOLE NONE 0 0 2,466
STARWOOD PPTY TR INC COM 85571B105 18,413 703,580 SH   SOLE NONE 108,000 0 595,580
STORE CAP CORP COM 862121100 6,002 173,925 SH   SOLE NONE 0 0 173,925
TRAVELERS GROUP INC COM 894190107 1,946 13,000 SH   SOLE NONE 13,000 0 0
TRIUMPH BANCORP INC COM 89679E300 17,942 241,648 SH   SOLE NONE 48,000 0 193,648
VERISIGN INC COM 94343E102 7,292 32,025 SH   SOLE NONE 7,900 0 24,125