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
ALIBABA GROUP HLDG LTD SPONSORED ADS 01609W102 1,852 16,290 SH   SOLE   12,000 1 4,290
APPLE INC COM 037833100 582 4,260 SH   SOLE   0 1 4,260
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 13,467 49,325 SH   SOLE   0 1 49,325
BERKSHIRE HATHAWAY INC DEL CL A 084670108 409 1 SH   SOLE   0 0 1
CITIGROUP INC COM NEW 172967424 8,090 175,900 SH   SOLE   151,900 1 24,000
COMMERCIAL METALS CO COM 201723103 75,832 2,291,000 SH   SOLE   1,959,000 1 332,000
D R HORTON INC COM 23331A109 4,699 71,000 SH   SOLE   71,000 1 0
ENERGY TRANSFER L P COM UT LTD PTN 29273V100 2,682 268,700 SH   SOLE   268,700 1 0
ENTERPRISE PRODS PARTNERS L COM 293792107 87,557 3,592,800 SH   SOLE   3,592,800 1 0
INTEL CORP COM 458140100 22,012 588,400 SH   SOLE   498,000 1 90,400
KINDER MORGAN INC DEL COM 49456B101 13,183 786,600 SH   SOLE   121,600 1 665,000
OLD REP INTL CORP COM 680223104 7,068 316,100 SH   SOLE   316,100 1 0
ST JOE CO COM 790148100 968,025 24,469,790 SH   SOLE   22,831,491 1 1,638,299
WALGREENS BOOTS ALLIANCE INC COM 931427108 2,615 69,000 SH   SOLE   69,000 1 0
WEST FRASER TIMBER CO LTD COM 952845105 844 11,000 SH   SOLE   11,000 1 0