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
AMGEN INC COM 031162100 10,237 45,502 SH   SOLE 0 0 0 45,502
APA CORPORATION COM 03743Q108 956 35,552 SH   SOLE 0 0 0 35,552
APPLE INC COM 037833100 270 1,520 SH   SOLE 0 0 0 1,520
ARCOS DORADOS HOLDINGS INC SHS CLASS -A - G0457F107 3,097 531,241 SH   SOLE 0 0 0 531,241
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 4,953 16,565 SH   SOLE 0 0 0 16,565
CORNING INC COM 219350105 10,159 272,876 SH   SOLE 0 0 0 272,876
DEVON ENERGY CORP NEW COM 25179M103 1,658 37,635 SH   SOLE 0 0 0 37,635
DISCOVERY INC COM SER C 25470F302 9,140 399,105 SH   SOLE 0 0 0 399,105
DISNEY WALT CO COM 254687106 359 2,320 SH   SOLE 0 0 0 2,320
EXXON MOBIL CORP COM 30231G102 1,038 16,960 SH   SOLE 0 0 0 16,960
FIVE POINT HOLDINGS LLC COM CL A 33833Q106 7,130 1,090,147 SH   SOLE 0 0 0 1,090,147
FORTIS INC COM 349553107 241 5,000 SH   SOLE 0 0 0 5,000
FRANKLIN RESOURCES INC COM 354613101 8,563 255,698 SH   SOLE 0 0 0 255,698
GRAFTECH INTL LTD COM 384313508 4,668 394,585 SH   SOLE 0 0 0 394,585
HERSHA HOSPITALITY TR PR SHS BEN INT 427825500 3,127 340,971 SH   SOLE 0 0 0 340,971
ILLINOIS TOOL WKS INC COM 452308109 232 940 SH   SOLE 0 0 0 940
JOHNSON & JOHNSON COM 478160104 762 4,455 SH   SOLE 0 0 0 4,455
JPMORGAN CHASE & CO COM 46625H100 474 2,995 SH   SOLE 0 0 0 2,995
KIMCO RLTY CORP COM 49446R109 9,165 371,786 SH   SOLE 0 0 0 371,786
LOEWS CORP COM 540424108 9,632 166,758 SH   SOLE 0 0 0 166,758
M & T BK CORP COM 55261F104 2,308 15,026 SH   SOLE 0 0 0 15,026
MCDONALDS CORP COM 580135101 348 1,300 SH   SOLE 0 0 0 1,300
MERCK & CO INC COM 58933Y105 285 3,716 SH   SOLE 0 0 0 3,716
MICROSOFT CORP COM 594918104 249 739 SH   SOLE 0 0 0 739
NVIDIA CORPORATION COM 67066G104 54,136 184,066 SH   SOLE 0 0 0 184,066
PAYCHEX INC COM 704326107 1,189 8,707 SH   SOLE 0 0 0 8,707
PFIZER INC COM 717081103 365 6,175 SH   SOLE 0 0 0 6,175
PHILLIPS 66 COM 718546104 1,784 24,620 SH   SOLE 0 0 0 24,620
PROCTER AND GAMBLE CO COM 742718109 278 1,700 SH   SOLE 0 0 0 1,700
QUALCOMM INC COM 747525103 20,564 112,450 SH   SOLE 0 0 0 112,450
QUEST DIAGNOSTICS INC COM 74834L100 433 2,500 SH   SOLE 0 0 0 2,500
ROCKWELL AUTOMATION INC COM 773903109 279 800 SH   SOLE 0 0 0 800
SERITAGE GROWTH PPTYS CL A 81752R100 1,798 135,485 SH   SOLE 0 0 0 135,485
STEPAN CO COM 858586100 5,476 44,057 SH   SOLE 0 0 0 44,057
TANGER FACTORY OUTLET CTRS I COM 875465106 7,969 413,346 SH   SOLE 0 0 0 413,346
TEEKAY LNG PARTNERS L P PRTNRSP UNITS Y8564M105 7,072 417,720 SH   SOLE 0 0 0 417,720
TIDEWATER INC NEW COM 88642R109 2,830 264,245 SH   SOLE 0 0 0 264,245
TRINITY PL HLDGS INC COM 89656D101 905 491,780 SH   SOLE 0 0 0 491,780
UNION PAC CORP COM 907818108 1,724 6,844 SH   SOLE 0 0 0 6,844
UNITEDHEALTH GROUP INC COM 91324P102 201 400 SH   SOLE 0 0 0 400
WARRIOR MET COAL INC COM 93627C101 6,084 236,642 SH   SOLE 0 0 0 236,642
WEYERHAEUSER CO MTN BE COM NEW 962166104 10,396 252,441 SH   SOLE 0 0 0 252,441
ZEBRA TECHNOLOGIES CORPORATI CL A 989207105 238 400 SH   SOLE 0 0 0 400