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
Expires: July 31, 2015
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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
Alibaba Group ADR SPONSORED ADS 01609W102 779 8,985 SH SOLE 7,985 0 1,000
Alphabet Inc. Class A CAP STK CL A 02079K305 26 200 SH OTR 200 0 0
Alphabet Inc. Class A CAP STK CL A 02079K305 5,776 44,140 SH SOLE 40,545 0 3,595
Alphabet Inc. Class C CAP STK CL C 02079K107 26 200 SH OTR 200 0 0
Alphabet Inc. Class C CAP STK CL C 02079K107 1,075 8,155 SH SOLE 6,475 0 1,680
American Express Co. COM 025816109 60 400 SH OTR 400 0 0
American Express Co. COM 025816109 3,704 24,830 SH SOLE 22,930 0 1,900
Apple Inc. COM 037833100 1,295 7,565 SH SOLE 7,565 0 0
Arch Capital Group Ltd ORD G0450A105 14 175 SH OTR 175 0 0
Arch Capital Group Ltd ORD G0450A105 3,283 41,182 SH SOLE 37,065 0 4,117
Bank of America COM 060505104 85 3,100 SH SOLE 3,100 0 0
Baxter International COM 071813109 928 24,460 SH SOLE 24,010 0 450
Berkshire Hathaway Class B CL B NEW 084670702 1,714 4,893 SH SOLE 4,393 0 500
Blackstone Group Inc COM 09260D107 86 800 SH OTR 800 0 0
Blackstone Group Inc COM 09260D107 10,017 93,491 SH SOLE 89,166 0 4,325
Blackstone Mortgage Trust COM CL A 09257W100 1,784 79,735 SH SOLE 77,120 0 2,615
Boeing COM 097023105 2,032 10,599 SH SOLE 10,599 0 0
Bristol-Myers Squibb COM 110122108 12 200 SH OTR 200 0 0
Bristol-Myers Squibb COM 110122108 1,096 18,892 SH SOLE 15,167 0 3,725
Brookfield Asset Management Ltd. CL A LMT VTG SHS 113004105 12 346 SH OTR 346 0 0
Brookfield Asset Management Ltd. CL A LMT VTG SHS 113004105 1,442 43,248 SH SOLE 40,639 0 2,609
Brookfield Corp F Class A CL A LTD VT SH 11271J107 43 1,387 SH OTR 1,387 0 0
Brookfield Corp F Class A CL A LTD VT SH 11271J107 5,289 169,134 SH SOLE 154,685 0 14,449
Brookfield Renewable LP PARTNERSHIP UNIT G16258108 523 24,012 SH SOLE 23,112 0 900
Brookfield Renewable C F Class A CL A SUB VTG 11284V105 143 5,986 SH SOLE 5,761 0 225
BWX Technologies Inc COM 05605H100 172 2,300 SH SOLE 800 0 1,500
Cambria Tail Risk ETF TAIL RISK 132061862 200 15,300 SH SOLE 15,300 0 0
Canadian National Railway Co. COM 136375102 1,728 15,950 SH SOLE 15,950 0 0
Chevron Corp. COM 166764100 1,537 9,118 SH SOLE 7,514 0 1,604
Cisco Systems, Inc. COM 17275R102 1,725 32,086 SH SOLE 32,086 0 0
CloudFlare, Inc. CL A COM 18915M107 60 950 SH SOLE 950 0 0
Coca-Cola Company COM 191216100 317 5,625 SH SOLE 5,625 0 0
Colgate-Palmolive Co COM 194162103 637 8,960 SH SOLE 2,260 0 6,700
Comcast Corporation CL A 20030N101 798 18,000 SH SOLE 18,000 0 0
Commercial Metals Co COM 201723103 74 1,500 SH SOLE 1,500 0 0
Consolidated Edison COM 209115104 17 200 SH OTR 200 0 0
Consolidated Edison COM 209115104 664 7,767 SH SOLE 7,367 0 400
Costco Wholesale Co COM 22160K105 90 160 SH SOLE 160 0 0
Coupang, Inc. CL A 22266T109 1,503 88,391 SH SOLE 68,292 0 20,099
Crane Company COMMON STOCK 224408104 107 1,200 SH SOLE 100 0 1,100
Deere & Co COM 244199105 329 870 SH SOLE 870 0 0
Devon Energy Corp COM 25179M103 144 3,025 SH SOLE 2,925 0 100
Dominion Resources, Inc COM 25746U109 290 6,500 SH SOLE 6,500 0 0
Duke Energy Corp COM NEW 26441C204 742 8,406 SH SOLE 8,406 0 0
Edison International COM 281020107 512 8,000 SH SOLE 8,000 0 0
Eli Lilly & Company COM 532457108 346 645 SH SOLE 640 0 5
Enbridge Inc COM 29250N105 426 12,796 SH SOLE 12,000 0 796
Enovix Corporation COM 293594107 3 250 SH OTR 250 0 0
Enovix Corporation COM 293594107 496 39,492 SH SOLE 38,197 0 1,295
Enterprise Products Partners L.P. COM 293792107 417 15,225 SH SOLE 15,075 0 150
ESAB Corp COM 29605J106 105 1,500 SH SOLE 0 0 1,500
ExxonMobil Corp COM 30231G102 967 8,221 SH SOLE 4,891 0 3,330
Franco-Nevada Corp COM 351858105 37 275 SH OTR 275 0 0
Franco-Nevada Corp COM 351858105 1,570 11,760 SH SOLE 10,262 0 1,498
General Mills Inc COM 370334104 140 2,194 SH SOLE 2,194 0 0
Grab Holdings Ltd. CLASS A ORD G4124C109 445 125,838 SH SOLE 89,986 0 35,852
Guardant Health, Inc. COM 40131M109 27 900 SH OTR 900 0 0
Guardant Health, Inc. COM 40131M109 2,381 80,320 SH SOLE 74,425 0 5,895
Home Depot COM 437076102 212 700 SH OTR 700 0 0
Home Depot COM 437076102 8,295 27,452 SH SOLE 24,052 0 3,400
Honeywell International Inc. COM 438516106 298 1,611 SH SOLE 1,611 0 0
Hubspot Inc COM 443573100 84 170 SH SOLE 170 0 0
Intuitive Surgical COM NEW 46120E602 110 375 SH SOLE 375 0 0
Johnson & Johnson COM 478160104 31 200 SH OTR 200 0 0
Johnson & Johnson COM 478160104 2,706 17,371 SH SOLE 16,921 0 450
JPMorgan Chase & Co COM 46625H100 7,012 48,349 SH SOLE 48,349 0 0
Kimberly-Clark Corp COM 494368103 123 1,005 SH SOLE 1,005 0 0
Markel Group Inc. COM 570535104 29 20 SH OTR 20 0 0
Markel Group Inc. COM 570535104 2,195 1,491 SH SOLE 1,183 0 308
Marriott Vacations COM 57164Y107 861 8,495 SH SOLE 8,495 0 0
Martin Marietta Matr COM 573284106 431 1,050 SH SOLE 1,050 0 0
MDU Resources Group, Inc. COM 552690109 7 350 SH OTR 350 0 0
MDU Resources Group, Inc. COM 552690109 311 15,800 SH SOLE 9,310 0 6,490
Mercadolibre Inc COM 58733R102 496 391 SH SOLE 281 0 110
Merck & Co. Inc. COM 58933Y105 104 1,000 SH OTR 1,000 0 0
Merck & Co. Inc. COM 58933Y105 9,145 88,200 SH SOLE 82,822 0 5,378
Microsoft Corporation COM 594918104 268 850 SH OTR 850 0 0
Microsoft Corporation COM 594918104 16,513 52,298 SH SOLE 48,586 0 3,712
NextEra Energy, Inc. COM 65339F101 19 325 SH OTR 325 0 0
NextEra Energy, Inc. COM 65339F101 1,761 30,747 SH SOLE 30,747 0 0
Oaktree Specialty Lending Corporation COM 67401P405 137 6,825 SH SOLE 6,825 0 0
Obsidian Energy Ltd. COM 674482203 521 63,392 SH SOLE 28,392 0 35,000
OGE Energy Corp. COM 670837103 1,117 33,500 SH SOLE 33,000 0 500
Penn NTNL Gaming COM 707569109 206 8,981 SH SOLE 8,981 0 0
PG&E Corporation COM 69331C108 565 35,025 SH SOLE 32,525 0 2,500
PhenixFIN Corporation COM 71742W103 9 245 SH OTR 245 0 0
PhenixFIN Corporation COM 71742W103 5,004 131,754 SH SOLE 86,004 0 45,750
Philip Morris International Inc. COM 718172109 112 1,190 SH SOLE 1,000 0 190
Portland General Electric Co. COM NEW 736508847 20 500 SH OTR 500 0 0
Portland General Electric Co. COM NEW 736508847 2,576 62,905 SH SOLE 59,580 0 3,325
Procter & Gamble COM 742718109 555 3,805 SH SOLE 3,805 0 0
ProShares Short S&P500 SHORT S&P 500 NE 74347B425 362 25,000 SH SOLE 13,000 0 12,000
Qualcomm Inc. COM 747525103 6,374 57,390 SH SOLE 55,165 0 2,225
Raytheon Technologies Co COM 75513E101 94 1,300 SH SOLE 1,300 0 0
Regeneron Pharms Inc COM 75886F107 202 245 SH SOLE 245 0 0
Saba Capital Income & Opportunities Fund SHS NEW 78518H202 225 29,325 SH SOLE 29,325 0 0
Saba Closed End Funds ETF SABA INT RATE 30151E806 19 1,075 SH OTR 1,075 0 0
Saba Closed End Funds ETF SABA INT RATE 30151E806 465 26,560 SH SOLE 26,560 0 0
Skyward Specialty Insurance COM 830940102 137 5,000 SH SOLE 0 0 5,000
SLB COM STK 806857108 2,327 39,744 SH SOLE 38,894 0 850
Snowflake Inc. CL A 833445109 276 1,805 SH SOLE 1,550 0 255
Southern Company COM 842587107 1,764 27,261 SH SOLE 27,261 0 0
The Williams Companies, Inc. COM 969457100 51 1,500 SH SOLE 1,500 0 0
Thermo Fisher Scientific COM 883556102 17 33 SH SOLE 33 0 0
Tidewater Inc. COM 88642R109 142 2,000 SH SOLE 0 0 2,000
Union Pacific Corp. COM 907818108 81 400 SH OTR 400 0 0
Union Pacific Corp. COM 907818108 6,663 32,720 SH SOLE 32,720 0 0
Vaneck Vectors Green Bond ETF GREEN BOND ETF 92189F171 187 8,250 SH SOLE 8,250 0 0
Viper Energy Partners LP COM UNT RP INT 92763M105 139 5,000 SH SOLE 2,000 0 3,000
Walgreens Boots Alliance, Inc. COM 931427108 49 2,185 SH SOLE 2,185 0 0
Weyerhaeuser Co REIT COM NEW 962166104 46 1,500 SH OTR 1,500 0 0
Weyerhaeuser Co REIT COM NEW 962166104 5,046 164,595 SH SOLE 156,945 0 7,650