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
Balchem Corp. Com COM 057665200 42,871 439,836 SH   SOLE   439,836 0 0
Bel Fuse Inc. - Class A Common Stock CL A 077347201 490 23,434 SH   SOLE   23,434 0 0
Bel Fuse Inc. - Class B Common Stock CL B 077347300 2,931 140,257 SH   SOLE   140,257 0 0
Berkshire Hathaway Inc. Common Stock CL A 084670108 1,128 4 SH   SOLE   4 0 0
Boston Omaha Corporation - Class A Common Stock CL A 101044105 5,627 267,055 SH   SOLE   267,055 0 0
Broadridge Financial Solutions, Inc.Common Stock COM 11133T103 4,695 40,793 SH   SOLE   40,793 0 0
Command Security Corporation Common Stock COM 20050L100 26 16,751 SH   SOLE   16,751 0 0
Dolby Laboratories Common Stock COM 25659T107 535 8,679 SH   SOLE   8,679 0 0
Flushing Financial Corporation - Common Stock COM 343873105 989 37,894 SH   SOLE   37,894 0 0
Franco-Nevada Corporation COM 351858105 780 10,676 SH   SOLE   10,676 0 0
Frequency Electronics, Inc. - Common Stock COM 358010106 100 12,393 SH   SOLE   12,393 0 0
Garmin Ltd. COM H2906T109 1,876 30,755 SH   SOLE   30,755 0 0
IBERIABANK Corporation - Common Stock COM 450828108 1,692 22,316 SH   SOLE   22,316 0 0
J. W. Mays, Inc. - Common Stock COM 578473100 419 10,415 SH   SOLE   10,415 0 0
KeyCorp Common Stock COM 493267108 279 14,262 SH   SOLE   14,262 0 0
Liberty Media Corporation - Series C Liberty SiriusXM Common Stock COM SER C 531229607 394 8,679 SH   SOLE   8,679 0 0
Live Nation Entertainment, Inc. Common Stock COM 538034109 228 4,687 SH   SOLE   4,687 0 0
Mastercard Incorporated Common Stock COM 57636Q104 23,026 117,170 SH   SOLE   117,170 0 0
Metropolitan Bank Holding Corp. Common Stock COM 591774104 409 7,811 SH   SOLE   7,811 0 0
MMA Capital Management, LLC - Common Stock COM 55315D105 693 26,038 SH   SOLE   26,038 0 0
Pathfinder Bancorp, Inc. - Common Stock COM 70319R109 196 12,285 SH   SOLE   12,285 0 0
Simulations Plus, Inc. - Common Stock COM 829214105 638 28,696 SH   SOLE   28,696 0 0
Texas Pacific Land Trust Common Stock COM 882610108 12,363 17,780 SH   SOLE   17,780 0 0
Trinity Place Holdings Inc. Common Stock COM 89656D101 437 66,739 SH   SOLE   66,739 0 0
Virtus Investment Partners, Inc. - Common Stock COM 92828Q109 777 6,076 SH   SOLE   6,076 0 0
WisdomTree Investments, Inc. - Common Stock COM 97717P104 497 54,766 SH   SOLE   54,766 0 0
WPP plc American Depositary Shares ADR 92937A102 2,565 32,639 SH   SOLE   32,639 0 0