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
ADAMS DIVERSIFIED EQUITY FD COM 006212104 2,129 130,005 SH   SOLE NONE 0 0 130,005
AIR LEASE CORP CL A 00912X302 18,080 380,480 SH   SOLE NONE 85,000 0 295,480
ALPHABET INC CAP STK CL A 02079k107 14,112 10,555 SH   SOLE NONE 2,200 0 8,355
AMERICAN INTL GROUP INC W EXP 01/19/2021 026874156 425 41,385 SH   SOLE NONE 22,900 0 18,485
AMERICAN INTL GROUP INC COM 026874784 17,835 347,454 SH   SOLE NONE 187,000 0 160,454
APPLE INC COM 037833100 296 1,008 SH   SOLE NONE 0 0 1,008
ASSURED GUARANTY LTD COM G0585R106 20,563 419,473 SH   SOLE NONE 179,000 0 240,473
ATHENE HLDG LTD CL A G0684d107 32,343 687,716 SH   SOLE NONE 276,000 0 411,716
AUTOZONE INC COM 053332102 24,218 20,329 SH   SOLE NONE 4,060 0 16,269
BERKSHIRE HATHAWAY INC CL B 084670702 965 4,261 SH   SOLE NONE 0 0 4,261
CAPITAL ONE FINL CORP COM 14040H105 14,004 136,089 SH   SOLE NONE 33,000 0 103,089
CHIMERA INVT CORP COM 16934Q109 20,731 1,008,322 SH   SOLE NONE 85,000 0 923,322
COCA COLA CO COM 191216100 751 13,569 SH   SOLE NONE 0 0 13,569
COMCAST CORP NEW CL A 20030n101 14,113 313,835 SH   SOLE NONE 60,000 0 253,835
CORECIVIC INC COM 21871n101 7,805 449,080 SH   SOLE NONE 80,000 0 369,080
CORTEVA INC COM 220521104 2,042 69,086 SH   SOLE NONE 13,333 0 55,753
CRAWFORD & CO CL A 224633206 1,855 161,761 SH   SOLE NONE 144,807 0 16,954
DARLING INGREDIENTS INC COM 237266101 12,488 444,730 SH   SOLE NONE 95,000 0 349,730
DUPONT DE NEMOURS INC COM 26614n102 4,442 69,187 SH   SOLE NONE 13,333 0 55,854
ENSTAR GROUP LIMITED SHS G3075p101 21,415 103,524 SH   SOLE NONE 50,000 0 53,524
EVEREST RE GROUP LTD COM G3223R108 3,045 11,000 SH   SOLE NONE 11,000 0 0
FIRST HORIZON NATL CORP COM 320517105 386 23,295 SH   SOLE NONE 0 0 23,295
GCI LIBERTY INC COM 36164v305 4,235 59,771 SH   SOLE NONE 15,000 0 44,771
GX ACQUISITION CORP UNIT EX 05/24/2026 36251a206 6,996 678,600 SH   SOLE NONE 147,500 0 531,100
HOME BANCSHARES INC COM 436893200 5,800 295,000 SH   SOLE NONE 0 0 295,000
ISHARES TR RUS 1000 ETF 464287622 624 3,500 SH   SOLE NONE 0 0 3,500
JERNIGAN CAP INC COM 476405105 8,754 457,350 SH   SOLE NONE 55,000 0 402,350
KKR & CO INC CL A 48251w104 253 8,690 SH   SOLE NONE 0 0 8,690
LIBERTY BROADBAND CORP COM SER C 530307305 14,849 118,080 SH   SOLE NONE 25,000 0 93,080
MGIC INVESTMENT CORP CORP 552848103 38,061 2,686,020 SH   SOLE NONE 1,230,000 0 1,456,020
MICROSOFT CORP CORP 594918104 325 2,062 SH   SOLE NONE 0 0 2,062
OLD REP INTL CORP COM 680223104 4,161 186,000 SH   SOLE NONE 92,000 0 94,000
PROGRESSIVE CORP OHIO COM 743315103 1,086 15,000 SH   SOLE NONE 15,000 0 0
REGIONS FINANCIAL CORP COM 7591EP100 330 19,235 SH   SOLE NONE 0 0 19,235
RENAISSANCE RE HOLDINGS LTD COM G7496G103 3,040 15,510 SH   SOLE NONE 15,500 0 10
RENEWABLE ENERGY GROUP COM 75972A301 15,198 563,935 SH   SOLE NONE 115,000 0 448,935
SELECT INTERIOR CONCEPTS INC CL A 816120307 1,667 185,433 SH   SOLE NONE 9,009 0 176,424
STARWOOD PPTY TR INC COM 85571B105 20,859 839,044 SH   SOLE NONE 120,106 0 718,938
STORE CAP CORP COM 862121100 7,927 212,875 SH   SOLE NONE 0 0 212,875
TORTOISE MLP FD INC COM 89148B101 8,892 811,361 SH   SOLE NONE 41,450 0 769,911
TRIUMPH BANCORP INC COM 89679E300 19,142 503,480 SH   SOLE NONE 70,000 0 433,480