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

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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 58,299 5,363,324 SH   SOLE   5,363,324 0 0
BLACK STONE MINERALS L P COM UNIT 09225M101 11,513 955,427 SH   SOLE   955,427 0 0
BOSTON OMAHA CORP COM 101044105 274,657 7,082,429 SH   SOLE   7,082,429 0 0
DISCOVERY INC COM SER C 25470F302 40,604 1,673,000 SH   SOLE   1,673,000 0 0
DREAM FINDERS HOMES INC COM CL A 26154D100 10,398 600,000 SH   SOLE   600,000 0 0
FRONTIER COMMUNICATIONS PARE COM 35909D109 118,178 4,240,319 SH   SOLE   4,240,319 0 0
FRP HLDGS INC COM 30292L107 1,621 28,984 SH   SOLE   28,984 0 0
NACCO INDS INC CL A 629579103 6,711 224,907 SH   SOLE   224,907 0 0
NELNET INC CL A 64031N108 150,556 1,900,000 SH   SOLE   1,900,000 0 0
NICHOLAS FINL INC BC COM NEW 65373J209 29,240 2,379,208 SH   SOLE   2,379,208 0 0
WELLS FARGO CO NEW COM 949746101 177,363 3,821,650 SH   SOLE   3,821,650 0 0