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 42,024 425,686 SH   SOLE   425,686 0 0
Bel Fuse Inc. - Class A Common Stock CL A 077347201 177 23,434 SH   SOLE   23,434 0 0
Bel Fuse Inc. - Class B Common Stock CL B 077347300 659 67,634 SH   SOLE   67,634 0 0
Berkshire Hathaway Inc. Common Stock CL A 084670108 1,088 4 SH   SOLE   4 0 0
Boston Omaha Corporation - Class A Common Stock CL A 101044105 4,836 267,055 SH   SOLE   267,055 0 0
Broadridge Financial Solutions, Inc.Common Stock COM 11133T103 3,868 40,793 SH   SOLE   40,793 0 0
Dolby Laboratories Common Stock COM 25659T107 470 8,679 SH   SOLE   8,679 0 0
Flushing Financial Corporation - Common Stock COM 343873105 291 21,745 SH   SOLE   21,745 0 0
Franco-Nevada Corporation COM 351858105 1,062 10,676 SH   SOLE   10,676 0 0
Frequency Electronics, Inc. - Common Stock COM 358010106 113 12,393 SH   SOLE   12,393 0 0
Garmin Ltd. - Common Stock COM H2906T109 3,055 40,755 SH   SOLE   40,755 0 0
IBERIABANK Corporation - Common Stock COM 450828108 807 22,316 SH   SOLE   22,316 0 0
J. W. Mays, Inc. - Common Stock COM 578473100 257 10,415 SH   SOLE   10,415 0 0
Mastercard Incorporated Common Stock COM 57636Q104 28,304 117,170 SH   SOLE   117,170 0 0
Metropolitan Bank Holding Corp. Common Stock COM 591774104 210 7,811 SH   SOLE   7,811 0 0
MMA Capital Management, LLC - Common Stock COM 55315D105 644 26,038 SH   SOLE   26,038 0 0
Pathfinder Bancorp, Inc. - Common Stock COM 70319R109 131 12,285 SH   SOLE   12,285 0 0
Simulations Plus, Inc. - Common Stock COM 829214105 1,002 28,696 SH   SOLE   28,696 0 0
Texas Pacific Land Trust Common Stock COM 882610108 6,842 18,004 SH   SOLE   18,004 0 0
Virtus Investment Partners, Inc. - Common Stock COM 92828Q109 462 6,076 SH   SOLE   6,076 0 0
WisdomTree Investments, Inc. - Common Stock COM 97717P104 123 52,766 SH   SOLE   52,766 0 0