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
ALLEGHANY CORP DEL COM 017175100 6,023 9,617 SH   SOLE   6,142 0 3,475
ALPHABET INC CAP STK CL A 02079K305 87 42 SH   SOLE   0 0 42
ALPHABET INC CAP STK CL C 02079k107 17,374 8,399 SH   SOLE   5,709 0 2,690
BK OF AMERICA CORP COM 060505104 4,816 124,468 SH   SOLE   75,600 0 48,868
BARRICK GOLD CORP COM 067901108 9,253 467,305 SH   SOLE   289,315 0 177,990
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 22,914 89,694 SH   SOLE   54,516 0 35,178
BROOKFIELD ASSET MGMT INC CL A LTD VT SH 112585104 2,821 63,402 SH   SOLE   40,050 0 23,352
BUILDERS FIRSTSOURCE INC COM 12008r107 7,962 171,700 SH   SOLE   108,600 0 63,100
CHUBB LIMITED COM h1467j104 1,559 9,870 SH   SOLE   6,425 0 3,445
DEVON ENERGY CORP NEW COM 25179m103 6,278 287,312 SH   SOLE   184,562 0 102,750
FACEBOOK INC CL A 30303m102 3,555 12,070 SH   SOLE   7,820 0 4,250
FEDERATED HERMES INC CL B 314211103 852 27,235 SH   SOLE   2,640 0 24,595
HESS MIDSTREAM LP CLA A SHS 428103105 3,259 145,367 SH   SOLE   83,417 0 61,950
JEFFERIES FINL GROUP INC COM 47233w109 13,575 450,999 SH   SOLE   269,132 0 181,867
JPMORGAN CHASE & CO COM 46625h100 1,218 8,000 SH   SOLE   8,000 0 0
KKR & CO INC COM 48251w104 3,601 73,725 SH   SOLE   48,050 0 25,675
LENNAR CORP CL B 526057302 6,929 84,146 SH   SOLE   56,246 0 27,900
MARKEL CORP COM 570535104 2,633 2,310 SH   SOLE   285 0 2,025
PG&E CORP COM 69331c108 2,334 199,275 SH   SOLE   142,100 0 57,175
PROGRESSIVE CORP COM 743315103 5,734 59,975 SH   SOLE   37,675 0 22,300
SPECTRUM BRANDS HLDGS INC NE COM 84790a105 516 6,068 SH   SOLE   622 0 5,446
STORE CAP CORP COM 862121100 6,571 196,150 SH   SOLE   123,000 0 73,150
SYSTEMAX INC COM 871851101 2,301 55,951 SH   SOLE   33,935 0 22,016
VERIZON COMMUNICATIONS INC COM 92343v104 1,275 21,934 SH   SOLE   686 0 21,248
SPDR S&P 500 ETF TR TR UNIT 78462f103 92 430 SH Put SOLE   430 0 0