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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ALLIANCE RESOURCE PARTNERS L UT LTD PART 01877R108   1,920 70,400 SH   SOLE NONE 0 0 70,400
ALPHABET INC CAP STK CL A 02079k107   17,754 113,643 SH   SOLE NONE 40,000 0 73,643
AMERICAN EXPRESS CO COM 025816109   11,082 41,190 SH   SOLE NONE 14,500 0 26,690
AMERICAN INTL GROUP INC COM 026874784   8,755 100,700 SH   SOLE NONE 100,000 0 700
APOLLO GLOBAL MGMT INC COM 03769M106   40,760 297,652 SH   SOLE NONE 180,664 0 116,988
APPLE INC COM 037833100   467 2,100 SH   SOLE NONE 0 0 2,100
AUTOZONE INC COM 053332102   22,675 5,947 SH   SOLE NONE 2,000 0 3,947
BERKSHIRE HATHAWAY INC CL B 084670702   442 830 SH   SOLE NONE 0 0 830
COCA COLA CO COM 191216100   936 13,064 SH   SOLE NONE 0 0 13,064
DARLING INGREDIENTS INC COM 237266101   13,857 443,575 SH   SOLE NONE 170,000 0 273,575
ENERGY TRANSFER L P COM UT LTD PTN 29273v100   7,919 426,000 SH   SOLE NONE 350,000 0 76,000
EQUITABLE HOLDINGS INC COM 29452E101   3,907 75,000 SH   SOLE NONE 75,000 0 0
ESSENT GROUP LTD COM G3198U102   3,314 57,413 SH   SOLE NONE 30,000 0 27,413
EVEREST RE GROUP LTD COM G3223R108   10,589 29,145 SH   SOLE NONE 16,000 0 13,145
FIDELIS INSURANCE HOLDINGS LTD COM G3398L118   4,860 300,000 SH   SOLE NONE 300,000 0 0
FIRST HORIZON NATL CORP COM 320517105   9,232 475,375 SH   SOLE NONE 200,000 0 275,375
HARTFORD FINL SVCS CORP COM 416515104   4,331 35,000 SH   SOLE NONE 35,000 0 0
HOME BANCSHARES INC COM 436893200   283 10,000 SH   SOLE NONE 0 0 10,000
KINDER MORGAN INC DEL COM 49456b101   6,166 216,125 SH   SOLE NONE 0 0 216,125
LENNAR CORP CL B 526057302   12,792 117,285 SH   SOLE NONE 45,000 0 72,285
MGIC INVESTMENT CORP CORP 552848103   46,016 1,856,992 SH   SOLE NONE 1,308,212 0 548,780
MICROSOFT CORP CORP 594918104   563 1,500 SH   SOLE NONE 0 0 1,500
MILLROSE PPTYS INC COM 601137102   1,642 61,937 SH   SOLE NONE 22,500 0 39,437
NMI HOLDINGS INC CL A 629209305   873 24,210 SH   SOLE NONE 0 0 24,210
NVIDIA CORP COM 67066g104   218 2,014 SH   SOLE NONE 0 0 2,014
OLD REP INTL CORP COM 680223104   7,366 187,800 SH   SOLE NONE 120,000 0 67,800
PROGRESSIVE CORP OHIO COM 743315103   23,944 84,608 SH   SOLE NONE 53,500 0 31,108
RANGE RES CORP COM 75281A109   10,581 264,993 SH   SOLE NONE 110,000 0 154,993
REDWOOD TRUST INC COM 758075402   2,617 431,100 SH   SOLE NONE 0 0 431,100
REGIONS FINANCIAL CORP COM 7591EP100   418 19,235 SH   SOLE NONE 0 0 19,235
SITIO ROYALTIES CORP CL A 82983n108   7,221 363,439 SH   SOLE NONE 115,000 0 248,439
STARWOOD PPTY TR INC COM 85571B105   12,241 619,160 SH   SOLE NONE 220,000 0 399,160
TIPTREE INC COM 88822q103   500 20,746 SH   SOLE NONE 20,746 0 0
TRAVELERS GROUP INC COM 894190107   3,438 13,000 SH   SOLE NONE 13,000 0 0
TRIUMPH FINANCIAL INC COM 89679E300   7,471 129,250 SH   SOLE NONE 48,000 0 81,250
WESTROCK COFFEE CO COM 96145W103   29,223 4,047,562 SH   SOLE NONE 400,000 0 3,647,562