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
Expires: July 31, 2015
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
ALLIANCE RESOURCE PARTNERS L UT LTD PART 01877R108 1,619 69,700 SH SOLE NONE 0 0 69,700
ALPHABET INC CAP STK CL A 02079k305 291 930 SH SOLE NONE 0 0 930
ALPHABET INC CAP STK CL C 02079k107 33,960 108,223 SH SOLE NONE 40,000 0 68,223
AMERICAN EXPRESS CO COM 025816109 14,347 38,783 SH SOLE NONE 14,500 0 24,283
APOLLO GLOBAL MGMT INC COM 03769M106 42,585 294,178 SH SOLE NONE 180,664 0 113,514
APPLE INC COM 037833100 566 2,080 SH SOLE NONE 0 0 2,080
AUTOZONE INC COM 053332102 19,121 5,638 SH SOLE NONE 2,000 0 3,638
BERKSHIRE HATHAWAY INC CL B 084670702 591 1,176 SH SOLE NONE 0 0 1,176
COCA COLA CO COM 191216100 874 12,500 SH SOLE NONE 0 0 12,500
DARLING INGREDIENTS INC COM 237266101 16,645 462,356 SH SOLE NONE 170,000 0 292,356
ENERGY TRANSFER L P COM UT LTD PTN 29273v100 7,771 471,236 SH SOLE NONE 350,000 0 121,236
EQUITABLE HOLDINGS INC COM 29452E101 3,588 75,300 SH SOLE NONE 75,000 0 300
ESSENT GROUP LTD COM G3198U102 3,378 51,958 SH SOLE NONE 30,000 0 21,958
EVEREST RE GROUP LTD COM G3223R108 9,910 29,202 SH SOLE NONE 16,000 0 13,202
FEDEX CORP COM 31428x106 311 1,075 SH SOLE NONE 0 0 1,075
FIDELIS INSURANCE HOLDINGS LTD COM G3398L118 15,841 809,454 SH SOLE NONE 466,764 0 342,690
FIDELITY COMWLTH NASDAQ COMPSIT 315912808 213 2,330 SH SOLE NONE 0 0 2,330
FIRST HRIZON NATIONAL CORP COM 320517105 227 9,498 SH SOLE NONE 0 0 9,498
HARTFORD FINL SVCS CORP COM 416515104 4,823 35,000 SH SOLE NONE 35,000 0 0
HOME BANCSHARES INC COM 436893200 278 10,000 SH SOLE NONE 0 0 10,000
INVESCO QQQ TR UNIT SER1 46090e103 276 450 SH SOLE NONE 0 0 450
KKR & CO INC CL A 48251w104 604 4,740 SH SOLE NONE 0 0 4,740
KINDER MORGAN INC DEL COM 49456b101 6,201 225,600 SH SOLE NONE 0 0 225,600
LENNAR CORP CL B 526057302 10,778 113,311 SH SOLE NONE 45,000 0 68,311
MGIC INVESTMENT CORP CORP 552848103 52,169 1,785,378 SH SOLE NONE 1,308,212 0 477,166
MICROSOFT CORP CORP 594918104 718 1,485 SH SOLE NONE 0 0 1,485
MILLROSE PPTYS INC COM 601137102 2,373 79,461 SH SOLE NONE 22,500 0 56,961
NMI HOLDINGS INC CL A 629209305 983 24,110 SH SOLE NONE 0 0 24,110
NVIDIA CORP COM 67066g104 282 1,514 SH SOLE NONE 0 0 1,514
OLD REP INTL CORP COM 680223104 7,188 157,500 SH SOLE NONE 120,000 0 37,500
PROGRESSIVE CORP OHIO COM 743315103 18,767 82,413 SH SOLE NONE 53,500 0 28,913
RANGE RES CORP COM 75281A109 9,502 269,478 SH SOLE NONE 110,000 0 159,478
REDWOOD TRUST INC COM 758075402 2,762 499,457 SH SOLE NONE 0 0 499,457
REGIONS FINANCIAL CORP COM 7591EP100 521 19,235 SH SOLE NONE 0 0 19,235
STARWOOD PPTY TR INC COM 85571B105 12,317 683,889 SH SOLE NONE 220,000 0 463,889
TARGA RES CORP COM 87612g101 12,434 67,396 SH SOLE NONE 23,000 0 44,396
TIPTREE INC COM 88822q103 406 22,246 SH SOLE NONE 20,746 0 1,500
TRAVELERS GROUP INC COM 894190107 3,771 13,000 SH SOLE NONE 13,000 0 0
TRIUMPH FINANCIAL INC COM 89679E300 7,964 127,158 SH SOLE NONE 48,000 0 79,158
U HAUL HOLDING COMPANY COM SER N 023586506 6,740 144,212 SH SOLE NONE 32,375 0 111,837
VANGUARD WORLD FD MEGA GRWTH IND 921910816 290 704 SH SOLE NONE 0 0 704
VIPER ENERGY INC CL A 64361Q101 4,931 127,652 SH SOLE NONE 0 0 127,652
WESTROCK COFFEE CO COM 96145W103 15,245 3,745,959 SH SOLE NONE 308,863 0 3,437,096