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
Ambev SSA ADR 02319V103 18,480 7,000,000 SH   SOLE   7,000,000 0 0
Infosys Ltd ADR 456788108 15,294 1,583,221 SH   SOLE   1,583,221 0 0
Spark Networks SE ADR 846517100 517 156,600 SH   SOLE   156,600 0 0
Unilever N.V. ADR 904784709 13,602 255,334 SH   SOLE   195,534 0 59,800
Alphabet Inc. COM 02079K107 330,718 233,953 SH   SOLE   231,990 0 1,963
Altria Group Inc. COM 02209S103 883 22,500 SH   SOLE   0 0 22,500
Amerco COM 023586100 62,740 207,618 SH   SOLE   207,618 0 0
Anthem Inc. COM 036752103 101,126 384,537 SH   SOLE   384,537 0 0
Arcosa Inc. COM 039653100 17,438 413,220 SH   SOLE   413,220 0 0
BNY Mellon Corp. COM 064058100 137,828 3,566,060 SH   SOLE   3,566,060 0 0
Berkshire Hath A COM 084670108 16,840 63 SH   SOLE   33 0 30
Berkshire Hath B COM 084670702 22,710 127,218 SH   SOLE   101,788 0 25,430
Booking Hldgs Inc. Com COM 09857L108 270,782 170,053 SH   SOLE   170,053 0 0
Charles Schwab Corp COM 808513105 2,021 59,900 SH   SOLE   0 0 59,900
Cisco Systems Inc. COM 17275R102 142,974 3,065,488 SH   SOLE   3,065,488 0 0
Clorox Company COM 189054109 4,217 19,225 SH   SOLE   0 0 19,225
Coca-Cola Co. COM 191216100 274,842 6,151,352 SH   SOLE   6,032,452 0 118,900
Cognizant Technology Solutions COM 192446102 240,953 4,240,644 SH   SOLE   4,240,644 0 0
Colgate-Palmolive COM 194162103 90,564 1,236,200 SH   SOLE   1,179,500 0 56,700
Comcast Cl A COM 20030N101 52,440 1,345,300 SH   SOLE   1,291,000 0 54,300
ConocoPhillips COM 20825C104 58,531 1,392,929 SH   SOLE   1,392,179 0 750
Corning Inc. COM 219350105 30,776 1,188,277 SH   SOLE   1,188,277 0 0
Exxon Mobil Corp. COM 30231G102 55,713 1,245,822 SH   SOLE   1,245,422 0 400
First Hawaiian Inc. COM 32051X108 48,765 2,828,606 SH   SOLE   2,828,606 0 0
Firstcash Inc. Com COM 33767D105 34,104 505,400 SH   SOLE   505,400 0 0
Fox Corp A COM 35137L105 189,099 7,050,689 SH   SOLE   7,049,356 0 1,333
Fox Corp B COM 35137L204 279,878 10,427,657 SH   SOLE   10,367,324 0 60,333
Goldman Sachs Grp COM 38141G104 45,660 231,049 SH   SOLE   231,049 0 0
Graftech International LTD COM 384313508 41,688 5,224,121 SH   SOLE   5,224,121 0 0
Hershey Co. COM 427866108 1,193 9,200 SH   SOLE   0 0 9,200
Huntsman Corporation COM 447011107 119,562 6,653,401 SH   SOLE   6,653,401 0 0
Ingredion Inc COM 457187102 67,709 815,770 SH   SOLE   815,770 0 0
Johnson & Johnson COM 478160104 304,444 2,164,861 SH   SOLE   2,134,691 0 30,170
Legacy Housing Corporation COM 52472M101 999 70,250 SH   SOLE   70,250 0 0
MSC Industrial Direct Co. COM 553530106 90,229 1,239,244 SH   SOLE   1,239,244 0 0
Macy's Inc. COM 55616P104 233,268 33,905,300 SH   SOLE   33,905,300 0 0
Mastercard Inc. COM 57636Q104 2,744 9,280 SH   SOLE   0 0 9,280
Micron Technology Inc COM 595112103 23,099 448,357 SH   SOLE   448,357 0 0
Microsoft Corp. COM 594918104 397,244 1,951,961 SH   SOLE   1,906,051 0 45,910
News Corp CL B COM 65249B208 8,497 711,076 SH   SOLE   711,076 0 0
News Corp Cl A COM 65249B109 249,757 21,058,734 SH   SOLE   21,058,734 0 0
Oracle Corporation COM 68389X105 122,145 2,209,969 SH   SOLE   2,209,969 0 0
Otelco Inc. COM 688823301 383 34,031 SH   SOLE   34,031 0 0
PepsiCo, Inc. COM 713448108 432,438 3,269,602 SH   SOLE   3,201,852 0 67,750
Philip Morris Intl COM 718172109 1,646 23,501 SH   SOLE   0 0 23,501
Procter & Gamble COM 742718109 377,138 3,154,115 SH   SOLE   3,081,125 0 72,990
Qurate Retail Inc. COM 74915M100 32,250 3,394,712 SH   SOLE   3,393,411 0 1,301
Ralph Lauren Corp COM 751212101 54,081 745,734 SH   SOLE   745,734 0 0
Reading International, Inc. COM 755408101 3,663 862,000 SH   SOLE   852,000 0 10,000
Spdr S&P 500 ETF COM 78462F103 1,156 3,741 SH   SOLE   3,741 0 0
State Street Corp COM 857477103 216,280 3,403,298 SH   SOLE   3,403,298 0 0
Stryker Corporation COM 863667101 4,483 24,878 SH   SOLE   24,878 0 0
Sysco Corporation COM 871829107 314,115 5,746,714 SH   SOLE   5,682,014 0 64,700
Tilly's, Inc. COM 886885102 1,315 232,000 SH   SOLE   82,000 0 150,000
Trecora Resources COM 894648104 2,245 358,000 SH   SOLE   358,000 0 0
U.S. Bancorp COM 902973304 164,532 4,468,548 SH   SOLE   4,455,249 0 13,299
Valmont Industries Inc. COM 920253101 1,650 14,520 SH   SOLE   14,520 0 0
Waddell & Reed Financial Inc C COM 930059100 6,902 445,000 SH   SOLE   445,000 0 0
Walt Disney Company COM 254687106 325,435 2,918,435 SH   SOLE   2,860,890 0 57,545
Wells Fargo & Co COM 949746101 113,108 4,418,282 SH   SOLE   4,371,982 0 46,300