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
AERCAP HOLDINGS NV SHS N00985106 761 12,373 SH   SOLE   12,373 0 0
ALLY FINL INC COM 02005N100 703 22,997 SH   SOLE   22,997 0 0
ALPHABET INC CAP STK CL C 02079K107 4,002 2,988 SH   SOLE   2,988 0 0
AON PLC SHS CL A G0408V102 15,400 73,935 SH   SOLE   73,935 0 0
ATKORE INTL GROUP INC COM 047649108 2,661 65,778 SH   SOLE   65,778 0 0
BAUDAX BIO INC COM 07160F107 5,679 820,638 SH   SOLE   820,638 0 0
BAUSCH HEALTH COS INC COM 071734107 277 9,245 SH   SOLE   9,245 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 4,230 18,677 SH   SOLE   18,677 0 0
BRIGHTSPHERE INVT GROUP INC COM 10948W103 307 30,069 SH   SOLE   30,069 0 0
BROADMARK RLTY CAP INC COM 11135B100 256 20,070 SH   SOLE   20,070 0 0
CHURCHILL DOWNS INC COM 171484108 10,214 74,445 SH   SOLE   74,445 0 0
CITIGROUP INC COM NEW 172967424 2,678 33,517 SH   SOLE   33,517 0 0
CUSTOMERS BANCORP INC COM 23204G100 1,258 52,839 SH   SOLE   52,839 0 0
DIAMOND S SHIPPING INC COM Y20676105 464 27,693 SH   SOLE   27,693 0 0
DISCOVER FINL SVCS COM 254709108 982 11,580 SH   SOLE   11,580 0 0
ECHOSTAR CORP CL A 278768106 684 15,797 SH   SOLE   15,797 0 0
ENCORE CAP GROUP INC COM 292554102 1,125 31,803 SH   SOLE   31,803 0 0
AXA EQUITABLE HLDGS INC COM 054561105 1,091 44,021 SH   SOLE   44,021 0 0
EXTENDED STAY AMER INC UNIT 99/99/9999B 30224P200 6,508 437,946 SH   SOLE   437,946 0 0
F M C CORP COM NEW 302491303 12,339 123,610 SH   SOLE   123,610 0 0
FS KKR CAPITAL CORP COM 302635107 1,041 169,760 SH   SOLE   169,760 0 0
GLOBAL SHIP LEASE INC NEW COM CL A Y27183600 432 48,937 SH   SOLE   48,937 0 0
GODADDY INC CL A 380237107 13,986 205,912 SH   SOLE   205,912 0 0
HD SUPPLY HLDGS INC COM 40416M105 10,133 251,932 SH   SOLE   251,932 0 0
HILTON GRAND VACATIONS INC COM 43283X105 11,060 321,593 SH   SOLE   321,593 0 0
HOUGHTON MIFFLIN HARCOURT CO COM 44157R109 8,925 1,427,991 SH   SOLE   1,427,991 0 0
HOWARD HUGHES CORP COM 44267D107 776 6,122 SH   SOLE   6,122 0 0
IAC INTERACTIVECORP COM 44919P508 24,818 99,627 SH   SOLE   99,627 0 0
IHS MARKIT LTD SHS G47567105 12,080 160,320 SH   SOLE   160,320 0 0
IQVIA HLDGS INC COM 46266C105 17,062 110,429 SH   SOLE   110,429 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 3,640 21,974 SH   SOLE   21,974 0 0
ISHARES TR RUS 2000 GRW ETF 464287648 3,412 15,928 SH   SOLE   15,928 0 0
ISTAR INC COM 45031U101 797 54,923 SH   SOLE   54,923 0 0
KRATON CORPORATION COM 50077C106 8,646 341,450 SH   SOLE   341,450 0 0
LAUREATE EDUCATION INC CL A 518613203 14,618 830,097 SH   SOLE   830,097 0 0
LIBERTY MEDIA CORP DELAWARE COM A SIRIUSXM 531229409 387 8,007 SH   SOLE   8,007 0 0
LIVENT CORP COM 53814L108 354 41,444 SH   SOLE   41,444 0 0
MADISON SQUARE GARDEN CO NEW CL A 55825T103 1,574 5,350 SH   SOLE   5,350 0 0
MARATHON OIL CORP COM 565849106 323 5,365 SH   SOLE   5,365 0 0
META FINL GROUP INC COM 59100U108 514 14,086 SH   SOLE   14,086 0 0
MICROSOFT CORP COM 594918104 4,659 29,541 SH   SOLE   29,541 0 0
NAVIGATOR HOLDINGS LTD SHS Y62132108 433 32,136 SH   SOLE   32,136 0 0
BIGLARI HLDGS INC COM STK CL B 08986R309 3,145 27,489 SH   SOLE   27,489 0 0
NEWMARK GROUP INC CL A 65158N102 3,543 263,310 SH   SOLE   263,310 0 0
NEWS CORP NEW CL A 65249B109 6,866 485,542 SH   SOLE   485,542 0 0
PARTY CITY HOLDCO INC COM 702149105 24 10,070 SH   SOLE   10,070 0 0
PERSPECTA INC COM 715347100 10,664 403,342 SH   SOLE   403,342 0 0
PLAYA HOTELS & RESORTS NV SHS N70544106 5,454 649,231 SH   SOLE   649,231 0 0
RAMACO RES INC COM 75134P303 80 22,479 SH   SOLE   22,479 0 0
RECRO PHARMA INC COM 75629F109 15,756 859,568 SH   SOLE   859,568 0 0
RYMAN HOSPITALITY PPTYS INC COM 78377T107 5,986 69,070 SH   SOLE   69,070 0 0
SCHMITT INDS INC ORE COM NEW 806870200 230 59,653 SH   SOLE   59,653 0 0
SPDR GOLD TRUST GOLD SHS 78463V107 687 4,805 SH   SOLE   4,805 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 9,818 30,504 SH   SOLE   30,504 0 0
SPDR S&P MIDCAP 400 ETF TR UTSER1 S&PDCRP 78467Y107 3,047 8,117 SH   SOLE   8,117 0 0
SPX CORP COM 784635104 21,171 416,103 SH   SOLE   416,103 0 0
STAR BULK CARRIERS CORP SHS PAR Y8162K204 320 27,119 SH   SOLE   27,119 0 0
STATE STR CORP COM 857477103 534 6,755 SH   SOLE   6,755 0 0
TRONOX HOLDINGS PLC SHS G9087Q102 3,953 346,156 SH   SOLE   346,156 0 0
VOYA FINL INC COM 929089100 12,001 196,808 SH   SOLE   196,808 0 0
WILLSCOT CORP COM 971375126 18,616 1,006,800 SH   SOLE   1,006,800 0 0