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
DISNEY WALT CO COM 254687106 420 2,320 SH   SOLE 0 0 0 2,320
PFIZER INC COM 717081103 227 6,175 SH   SOLE 0 0 0 6,175
APACHE CORP COM 037411105 512 36,050 SH   SOLE 0 0 0 36,050
QUALCOMM INC COM 747525103 13,840 90,848 SH   SOLE 0 0 0 90,848
UNION PAC CORP COM 907818108 1,438 6,904 SH   SOLE 0 0 0 6,904
MERCK & CO. INC COM 58933Y105 304 3,716 SH   SOLE 0 0 0 3,716
PAYCHEX INC COM 704326107 710 7,617 SH   SOLE 0 0 0 7,617
SERITAGE GROWTH PPTYS CL A 81752R100 1,984 135,120 SH   SOLE 0 0 0 135,120
APPLE INC COM 037833100 202 1,520 SH   SOLE 0 0 0 1,520
FIVE POINT HOLDINGS LLC COM CL A 33833Q106 5,578 1,021,584 SH   SOLE 0 0 0 1,021,584
KIMCO RLTY CORP COM 49446R109 5,667 377,530 SH   SOLE 0 0 0 377,530
STEPAN CO COM 858586100 5,282 44,263 SH   SOLE 0 0 0 44,263
PROCTER AND GAMBLE CO COM 742718109 237 1,700 SH   SOLE 0 0 0 1,700
INTEL CORP COM 458140100 1,678 33,690 SH   SOLE 0 0 0 33,690
EXXON MOBIL CORP COM 30231G102 703 17,060 SH   SOLE 0 0 0 17,060
DISCOVERY INC COM SER C 25470F302 7,381 281,825 SH   SOLE 0 0 0 281,825
TIDEWATER INC NEW COM 88642R109 2,491 288,361 SH   SOLE 0 0 0 288,361
ROCKWELL AUTOMATION INC COM 773903109 201 800 SH   SOLE 0 0 0 800
JPMORGAN CHASE & CO COM 46625H100 381 2,995 SH   SOLE 0 0 0 2,995
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 2,947 12,708 SH   SOLE 0 0 0 12,708
CORNING INC COM 219350105 9,810 272,493 SH   SOLE 0 0 0 272,493
WARRIOR MET COAL INC COM 93627C101 4,765 223,485 SH   SOLE 0 0 0 223,485
ALASKA AIR GROUP INC COM 011659109 3,539 68,066 SH   SOLE 0 0 0 68,066
WEYERHAEUSER CO MTN BE COM NEW 962166104 7,903 235,686 SH   SOLE 0 0 0 235,686
TRINITY PL HLDGS INC COM 89656D101 652 521,610 SH   SOLE 0 0 0 521,610
QUEST DIAGNOSTICS INC COM 74834L100 298 2,500 SH   SOLE 0 0 0 2,500
TANGER FACTORY OUTLET CTRS I COM 875465106 4,117 413,318 SH   SOLE 0 0 0 413,318
AMGEN INC COM 031162100 10,215 44,431 SH   SOLE 0 0 0 44,431
NVIDIA CORPORATION COM 67066G104 24,618 47,142 SH   SOLE 0 0 0 47,142
FRANKLIN RESOURCES INC COM 354613101 6,084 243,470 SH   SOLE 0 0 0 243,470
LOEWS CORP COM 540424108 7,469 165,900 SH   SOLE 0 0 0 165,900
DEVON ENERGY CORP NEW COM 25179M103 625 39,506 SH   SOLE 0 0 0 39,506
PHILLIPS 66 COM 718546104 1,948 27,846 SH   SOLE 0 0 0 27,846
HERSHA HOSPITALITY TR PR SHS BEN INT 427825500 2,685 340,363 SH   SOLE 0 0 0 340,363
ARCOS DORADOS HOLDINGS INC SHS CLASS -A - G0457F107 2,540 504,914 SH   SOLE 0 0 0 504,914
FORTIS INC COM 349553107 408 10,000 SH   SOLE 0 0 0 10,000
JOHNSON & JOHNSON COM 478160104 701 4,455 SH   SOLE 0 0 0 4,455
M & T BK CORP COM 55261F104 1,680 13,199 SH   SOLE 0 0 0 13,199
TEEKAY LNG PARTNERS L P PRTNRSP UNITS Y8564M105 3,617 315,608 SH   SOLE 0 0 0 315,608