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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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
Alphabet Inc Class C 02079K107   120,970,000 1,000,000 SH   SOLE   1,000,000 0 0
Alibaba Sponsored ADS 01609W102   41,675,000 500,000 SH   SOLE   500,000 0 0
Ameris Bancorp COM 03076K108   13,684,000 400,000 SH   SOLE   400,000 0 0
Arch Capital Group LTD COM G0450A105   147,882,642 1,975,720 SH   SOLE   1,975,720 0 0
Berkshire Hathaway Inc Del Cl A Frmly CL A 084670108   62,137,200 120 SH   SOLE   120 0 0
Berkshire Hathaway Inc Del Cl B Frmly CL B 084670702   68,200,000 200,000 SH   SOLE   200,000 0 0
AXOS Financial Inc COM 05465C100   56,202,000 1,425,000 SH   SOLE   1,425,000 0 0
CNB Financial Corp PA COM 126128107   7,061,341 400,076 SH   SOLE   400,076 0 0
Carlyle Group COM 14316J108   47,925,000 1,500,000 SH   SOLE   1,500,000 0 0
Chubb Limited COM H1467J104   86,652,000 450,000 SH   SOLE   450,000 0 0
Meta Platforms Cl A 30303M102   143,490,000 500,000 SH   SOLE   500,000 0 0
First Citizen Bancshares Cl A 31946M103   18,224,990 14,200 SH   SOLE   14,200 0 0
Five Star Bancorp COM 33830T103   22,370,000 1,000,000 SH   SOLE   1,000,000 0 0
Glacier Bancorp COM 37637Q105   24,604,133 789,353 SH   SOLE   789,353 0 0
Global Payments Inc. COM 37940X102   108,372,000 1,100,000 SH   SOLE   1,100,000 0 0
Goldman Sachs Group Inc COM 38141G104   38,704,800 120,000 SH   SOLE   120,000 0 0
Jones Lange Lasalle Inc. COM 48020Q107   23,370,000 150,000 SH   SOLE   150,000 0 0
KKR & Co. COM 48248M102   56,000,000 1,000,000 SH   SOLE   1,000,000 0 0
M&T Bank COM 55261F104   30,940,000 250,000 SH   SOLE   250,000 0 0
Markel COM 570535104   34,579,500 25,000 SH   SOLE   25,000 0 0
Mastercard Inc COM 57636Q104   33,430,500 85,000 SH   SOLE   85,000 0 0
Pacwest Bancorp COM 695263103   16,544,500 2,030,000 SH   SOLE   2,030,000 0 0
Raymond James Financial Inc COM 754730109   31,131,000 300,000 SH   SOLE   300,000 0 0
Servisfirst Bancshares Inc COM 81768T108   36,973,757 903,562 SH   SOLE   903,562 0 0
Southern States Bancshares COM 843878307   16,667,861 789,946 SH   SOLE   789,946 0 0
State Street Corp COM 857477103   87,816,000 1,200,000 SH   SOLE   1,200,000 0 0
Timberland Bancorp Inc COM 887098101   4,463,096 174,476 SH   SOLE   174,476 0 0
TriCo Bancshares COM 896095106   33,890,560 1,020,800 SH   SOLE   1,020,800 0 0
US Bancorp Del Com New COM 902973304   33,040,000 1,000,000 SH   SOLE   1,000,000 0 0
Visa Inc Com COM 92826C839   71,244,000 300,000 SH   SOLE   300,000 0 0
Webster Financial Corp COM 947890109   60,400,000 1,600,000 SH   SOLE   1,600,000 0 0
Western Alliance Bancorp COM 957638109   91,175,000 2,500,000 SH   SOLE   2,500,000 0 0