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

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COLUMN 1COLUMN 2COLUMN 3COLUMN 4COLUMN 5COLUMN 6COLUMN 7COLUMN 8
VALUESHRS ORSH/PUT/INVESTMENTOTHERVOTING AUTHORITY
NAME OF ISSUERTITLE OF CLASSCUSIP(x$1000)PRN AMTPRNCALLDISCRETIONMANAGERSOLESHAREDNONE
Abbott Laboratoriescs0028241007836,627SH SOLE 6,62700
AbbVie Inccs00287y1092,33321,627SH SOLE 21,62700
Adobe Inccs00724f1019671,680SH SOLE 1,68000
Alphabet Inc Cap Stock Cl Acs02079k30523387SH SOLE 8700
Alphabet Inc Cap Stock Cl Ccs02079k1072,175816SH SOLE 81600
Amazon.com Inccs02313510628687SH SOLE 8700
American Express Cocs0258161098104,837SH SOLE 4,83700
Analog Devices Inccs0326541052481,480SH SOLE 1,48000
Apellis Pharmaceuticals Inccs03753u1062156,513SH SOLE 6,51300
Apple Inccs0378331001,2598,896SH SOLE 8,89600
Banc Of California Inccs05990k1061,63388,325SH SOLE 88,32500
Bancorp Inccs05969a1054,579179,910SH SOLE 179,91000
Bank America Corpcs0605051041,07025,208SH SOLE 25,20800
Banner Corpcs06652v20871712,979SH SOLE 12,97900
Berkshire Hathaway Inc Cl Bcs0846707021,9377,095SH SOLE 7,09500
Blackstone Group Inc Cl Acs09260d1079508,170SH SOLE 8,17000
Boeing Cocs0970231058944,065SH SOLE 4,06500
Booking Holdings Inccs09857l108847357SH SOLE 35700
Bristol-Myers Squibb Cocs1101221081,91732,405SH SOLE 32,40500
Brown Forman Corp Cl Acs11563710069111,030SH SOLE 11,03000
Brown Forman Corp Cl Bcs1156372091,00014,920SH SOLE 14,92000
Cambridge Bancorpcs1321521091,72619,618SH SOLE 19,61800
Caterpillar Inccs1491231015382,800SH SOLE 2,80000
Central Securities Corpcs1551231021,01424,000SH SOLE 24,00000
CF Industries Holdings Inccs1252691002,16538,787SH SOLE 38,78700
Chevron Corpcs1667641002,73426,950SH SOLE 26,95000
Chubb Limitedcsh1467j1046763,895SH SOLE 3,89500
Cimarex Energy Cocs1717981012,32626,680SH SOLE 26,68000
Cincinnati Financial Corpcs1720621013583,130SH SOLE 3,13000
Cisco Systems Inccs17275r1021,76232,367SH SOLE 32,36700
Citigroup Inccs1729674245828,289SH SOLE 8,28900
Coca-Cola Cocs1912161003005,722SH SOLE 5,72200
Colgate Palmolive Cocs1941621036128,100SH SOLE 8,10000
ConocoPhillipscs20825c1042,19432,376SH SOLE 32,37600
Curo Group Holdings Corpcs23131l10737421,555SH SOLE 21,55500
CVS Health Corpcs1266501001,45917,189SH SOLE 17,18900
Danaher Corpcs235851102304998SH SOLE 99800
Deere & Cocs2441991058682,590SH SOLE 2,59000
Diamondback Energy Inccs25278x1092,12022,397SH SOLE 22,39700
Disney Walt Co Disneycs2546871061,77610,496SH SOLE 10,49600
Eagle Bulk Shipping Inc Comcsy2187a1504619,137SH SOLE 9,13700
Emerson Electric Cocs2910111042452,600SH SOLE 2,60000
Enbridge Inccs29250n10559614,970SH SOLE 14,97000
EOG Resources Inccs26875p1011,72721,510SH SOLE 21,51000
Expedia Inccs30212p3038184,992SH SOLE 4,99200
Exxon Mobil Corpcs30231g10287914,943SH SOLE 14,94300
First Acceptance Corpcs3184571085725,800SH SOLE 25,80000
Frp Holdings Inccs30292l10760410,800SH SOLE 10,80000
General Dynamics Corpcs3695501086083,101SH SOLE 3,10100
General Electric Co Com Newcs3696043011,81217,589SH SOLE 17,58900
General Mills Inccs3703341041,03817,345SH SOLE 17,34500
General Motors Cocs37045v1001,46527,796SH SOLE 27,79600
Gilead Sciences Inccs3755581031,38219,783SH SOLE 19,78300
Hershey Cocs4278661083221,900SH SOLE 1,90000
Home Depot Inccs4370761025531,685SH SOLE 1,68500
Honeywell Intl Inccs4385161061,6267,661SH SOLE 7,66100
Illinois Tool Works Inccs452308109201975SH SOLE 97500
Intel Corpcs45814010097018,213SH SOLE 18,21300
Johnson & Johnsoncs4781601049095,626SH SOLE 5,62600
JPMorgan Chase & Cocs46625h1001,1817,215SH SOLE 7,21500
Kellogg Cocs4878361082023,160SH SOLE 3,16000
Kinder Morgan Inccs49456b10161836,950SH SOLE 36,95000
Lennar Corp Cl Acs5260571041,84119,653SH SOLE 19,65300
Lilly Eli & Cocs5324571081,3075,656SH SOLE 5,65600
Lockheed Martin Corpcs5398301099512,755SH SOLE 2,75500
Merck & Co Inccs58933y1051,78723,787SH SOLE 23,78700
Meta Financial Group Inccs59100u10890117,163SH SOLE 17,16300
MGM Resorts Internationalcs5529531011,21728,210SH SOLE 28,21000
Microsoft Corpcs5949181044151,471SH SOLE 1,47100
Morgan Stanleycs6174464486126,290SH SOLE 6,29000
Nabors Industries Ltd Shscsg6359f1373033,143SH SOLE 3,14300
Ncino Inccs63947u1074175,873SH SOLE 5,87300
NVR Inccs62944t1052,814587SH SOLE 58700
Onemain Holdings Inccs68268w1031,07719,465SH SOLE 19,46500
Oracle Corpcs68389x1058019,195SH SOLE 9,19500
Organon & Co Common Stockcs68622v1062307,022SH SOLE 7,02200
PacWest Bancorp Delcs6952631031,80939,914SH SOLE 39,91400
PepsiCo Inccs7134481086114,060SH SOLE 4,06000
Pfizer Inccs7170811032,07248,174SH SOLE 48,17400
Pioneer Natural Resources Cocs7237871072,29113,760SH SOLE 13,76000
Procter And Gamble Cocs7427181092561,830SH SOLE 1,83000
Raytheon Technologies Corpcs75513e1011,08212,592SH SOLE 12,59200
Seacoast Banking Corp FLcs8117078012316,840SH SOLE 6,84000
SM Energy Cocs78454l10088033,350SH SOLE 33,35000
Star Bulk Carriers Corp Parcsy8162k20453122,105SH SOLE 22,10500
Synovus Financial Corpcs87161c50155212,575SH SOLE 12,57500
Tesla Inccs88160r101323416SH SOLE 41600
Textron Inccs8832031012373,400SH SOLE 3,40000
Travelers Companies Inccs89417e1092281,500SH SOLE 1,50000
TriState Capital Holdings Inccs89678f1001,59175,206SH SOLE 75,20600
Triton Intl Ltd Cl Acsg9078f1071,85635,666SH SOLE 35,66600
Triumph Bancorp Inccs89679e3006896,877SH SOLE 6,87700
Union Pacific Corpcs9078181082401,225SH SOLE 1,22500
United Community Banks Blairsvcs90984p30338311,675SH SOLE 11,67500
VF Corpcs9182041082593,870SH SOLE 3,87000
Viatris Inccs92556v1061,397103,069SH SOLE 103,06900
Visa Inc Cl Acs92826c8393511,575SH SOLE 1,57500
Vulcan Materials Cocs9291601099275,480SH SOLE 5,48000
W&T Offshore Inccs92922p1064913,200SH SOLE 13,20000
Wells Fargo & Cocs94974610176716,536SH SOLE 16,53600
Western Alliance Bancorpcs9576381092,68124,635SH SOLE 24,63500
Westrock Cocs96145d1052,28145,779SH SOLE 45,77900
Zions Bancorporationcs9897011073405,500SH SOLE 5,50000
Takeda Pharmaceutical Co Ltd Sad87406020571043,320SH SOLE 43,32000
Fidelity Tr 500 Index Ins Premmf3159117502,52416,834SH SOLE 16,83400
Tekla Healthcare Invsmf87911j10337214,560SH SOLE 14,56000
Enterprise Products Partners Lml29379210738017,580SH SOLE 17,58000
Plains All American Pipeline Lml72650310530730,175SH SOLE 30,17500
Annaly Cap Mgmt Incre03571040930135,756SH SOLE 35,75600
Iron Mountain Incre46284v1011,56335,962SH SOLE 35,96200
Physicians Realty Trustre71943u10470339,875SH SOLE 39,87500
Weyerhaeuser Core9621661041,26835,637SH SOLE 35,63700