Zuckerman Investment 13F-HR Quarterly holdings report by institutional manager

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

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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
3M Co.	COM	88579Y101	431,712	3,600	SH		SOLE		3,600	0	0
Abbott Laboratories	COM	002824100	7,723,068	70,344	SH		SOLE		70,344	0	0
AbbVie Inc.	COM	00287Y109	11,965,120	74,037	SH		SOLE		74,037	0	0
Activision Blizzard Inc.	COM	00507V109	5,604,914	73,219	SH		SOLE		73,219	0	0
AdvisorShares Pure US Cannabis	PURE US CANNABIS	00768Y453	6,920,498	990,057	SH		SOLE		988,657	0	1,400
Alphabet Inc. Class A	CAP STK CL A	02079K305	10,569,689	119,797	SH		SOLE		119,697	0	100
Alphabet Inc. Class C	CAP STK CL C	02079K107	440,101	4,960	SH		SOLE		4,960	0	0
Amazon.com Inc.	COM	023135106	6,737,052	80,203	SH		SOLE		80,203	0	0
Apple Inc.	COM	037833100	11,904,836	91,625	SH		SOLE		91,625	0	0
Ares Capital Corp.	COM	04010L103	369,400	20,000	SH		SOLE		20,000	0	0
Ark Innovation ETF	INNOVATION ETF	00214Q104	493,123	15,785	SH		SOLE		15,785	0	0
Avantor, Inc.	COM	05352A100	10,436,513	494,856	SH		SOLE		494,856	0	0
Babcock & Wilcox Enterprises I	COM	05614L209	571,230	99,000	SH		SOLE		99,000	0	0
Baker Hughes Co.	CL A	05722G100	419,178	14,195	SH		SOLE		14,195	0	0
Bank of America Corp.	COM	060505104	7,313,327	220,813	SH		SOLE		220,393	0	420
Berkshire Hathaway Inc. Class	CL A	084670108	9,842,930	21	SH		SOLE		21	0	0
Berkshire Hathaway Inc. Class	CL B NEW	084670702	19,072,104	61,742	SH		SOLE		61,742	0	0
Bird Global, Inc.	COM CL A	09077J107	464,916	2,580,000	SH		SOLE		2,580,000	0	0
Bristol-Myers Squibb Co.	COM	110122108	1,084,358	15,071	SH		SOLE		15,071	0	0
C3ai Inc.	CL A	12468P104	395,007	35,300	SH		SOLE		35,300	0	0
Capital Southwest Corp.	COM	140501107	10,816,098	632,520	SH		SOLE		632,520	0	0
Carter's Inc.	COM	146229109	16,470,157	220,750	SH		SOLE		220,350	0	400
Cboe Global Markets, Inc.	COM	12503M108	1,055,830	8,415	SH		SOLE		8,415	0	0
CDW Corp.	COM	12514G108	10,910,702	61,097	SH		SOLE		61,097	0	0
Cisco Systems Inc.	COM	17275R102	555,530	11,661	SH		SOLE		11,661	0	0
Citigroup Inc.	COM NEW	172967424	5,199,686	114,961	SH		SOLE		114,811	0	150
Citizens Financial Group	COM	174610105	246,141	6,252	SH		SOLE		6,252	0	0
Cleveland Cliffs Inc.	COM	185899101	1,353,240	84,000	SH		SOLE		84,000	0	0
CME Group Inc.	COM	12572Q105	4,982,244	29,628	SH		SOLE		29,628	0	0
Coca-Cola Co.	COM	191216100	344,448	5,415	SH		SOLE		5,415	0	0
Constellation Energy Corp	COM	21037T109	409,066	4,745	SH		SOLE		4,745	0	0
Coterra Energy Inc	COM	127097103	258,476	10,520	SH		SOLE		10,520	0	0
CSW Industrials Inc.	COM	126402106	10,807,342	93,223	SH		SOLE		93,223	0	0
Diageo PLC Sponsored ADR	SPON ADR NEW	25243Q205	455,275	2,555	SH		SOLE		2,555	0	0
Dick's Sporting Goods Inc.	COM	253393102	20,909,169	173,823	SH		SOLE		173,823	0	0
Draftkings Inc.	COM CL A	26142V105	235,203	20,650	SH		SOLE		20,650	0	0
Eli Lilly & Co.	COM	532457108	377,913	1,033	SH		SOLE		1,033	0	0
Empire State Realty Trust Inc.	CL A	292104106	202,200	30,000	SH		SOLE		30,000	0	0
Exelon Corp.	COM	30161N101	226,957	5,250	SH		SOLE		5,250	0	0
Exxon Mobil Corp.	COM	30231G102	394,543	3,577	SH		SOLE		3,577	0	0
Financial Select Sector SPDR F	FINANCIAL	81369Y605	6,532,884	191,020	SH		SOLE		190,695	0	325
Ford Motor Company	COM	345370860	273,305	23,500	SH		SOLE		23,500	0	0
Goldman Sachs BDC Inc.	SHS	38147U107	205,800	15,000	SH		SOLE		15,000	0	0
Goldman Sachs Group Inc.	COM	38141G104	221,823	646	SH		SOLE		646	0	0
Hamilton Beach Brand Class A	COM CL A	40701T104	635,495	51,291	SH		SOLE		51,291	0	0
Hancock Whitney Corp.	COM	410120109	234,595	4,848	SH		SOLE		4,848	0	0
Henry Schein Inc.	COM	806407102	20,771,312	260,064	SH		SOLE		260,064	0	0
Hillman Solutions Corp.	COM	431636109	3,703,258	513,628	SH		SOLE		513,628	0	0
Home Depot Inc.	COM	437076102	618,138	1,957	SH		SOLE		1,957	0	0
HP Inc.	COM	40434L105	333,188	12,400	SH		SOLE		12,400	0	0
Int'l Business Machines Corp.	COM	459200101	1,678,000	11,910	SH		SOLE		11,910	0	0
Intel Corp.	COM	458140100	519,957	19,673	SH		SOLE		19,473	0	200
Jacobs Solutions Inc.	COM	46982L108	567,931	4,730	SH		SOLE		4,730	0	0
Johnson & Johnson	COM	478160104	1,475,027	8,350	SH		SOLE		8,350	0	0
Johnson Controls Int'l PLC	SHS	G51502105	18,065,152	282,268	SH		SOLE		282,268	0	0
JP Morgan Chase & Co.	COM	46625H100	8,060,215	60,106	SH		SOLE		60,006	0	100
KAR Auction Services Inc.	COM	48238T109	23,432,110	1,795,564	SH		SOLE		1,794,394	0	1,170
KeyCorp	COM	493267108	296,140	17,000	SH		SOLE		17,000	0	0
Kins Technology Group Inc	*W EXP 10/14/202	49714K117	6,622	220,000	SH		SOLE		220,000	0	0
KKR & Co. LP	COM	48251W104	9,826,232	211,681	SH		SOLE		211,366	0	315
Mastercard Inc.	CL A	57636Q104	614,439	1,767	SH		SOLE		1,767	0	0
Materials Select SPDR ETF	SBI MATERIALS	81369Y100	1,297,334	16,701	SH		SOLE		16,701	0	0
McKesson Corp.	COM	58155Q103	23,733,092	63,268	SH		SOLE		63,268	0	0
Merck & Co. Inc.	COM	58933Y105	7,390,379	66,610	SH		SOLE		66,475	0	135
Meta Platforms Inc.	CL A	30303M102	6,074,282	50,476	SH		SOLE		50,476	0	0
Microsoft Corp.	COM	594918104	14,565,407	60,735	SH		SOLE		60,735	0	0
Molina Healthcare Inc	COM	60855R100	703,369	2,130	SH		SOLE		2,130	0	0
New Vista Acquisition Corp	*W EXP 02/01/202	G6529L121	5,139	89,068	SH		SOLE		89,068	0	0
Newmark Group Inc.	CL A	65158N102	288,912	36,250	SH		SOLE		36,250	0	0
Novo-Nordisk A/S	ADR	670100205	374,215	2,765	SH		SOLE		2,765	0	0
Nutrien Ltd.	COM	67077M108	639,743	8,760	SH		SOLE		8,760	0	0
Oracle Corp.	COM	68389X105	643,866	7,877	SH		SOLE		7,877	0	0
Palantir Technologies Inc.	CL A	69608A108	1,121,381	174,670	SH		SOLE		174,670	0	0
Paramount Global	CLASS B COM	92556H206	829,736	49,155	SH		SOLE		49,155	0	0
Pentair PLC	SHS	G7S00T104	17,331,019	385,305	SH		SOLE		384,715	0	590
PepsiCo Inc.	COM	713448108	316,697	1,753	SH		SOLE		1,753	0	0
Pfizer Inc.	COM	717081103	1,555,851	30,364	SH		SOLE		30,364	0	0
Porch Group Inc.	COM	733245104	133,638	71,084	SH		SOLE		71,084	0	0
Portillo's Inc.	COM CL A	73642K106	6,635,418	406,582	SH		SOLE		405,782	0	800
Praxis Precision Medicines Inc	COM	74006W108	24,940	10,479	SH		SOLE		10,479	0	0
Procter & Gamble Co.	COM	742718109	388,297	2,562	SH		SOLE		2,562	0	0
Progressive Corp.	COM	743315103	12,345,928	95,181	SH		SOLE		94,941	0	240
Qualcomm Inc.	COM	747525103	201,630	1,834	SH		SOLE		1,834	0	0
Qurate Retail, Inc.	COM SER A	74915M100	21,084	12,935	SH		SOLE		12,935	0	0
Raytheon Technologies Corp.	COM	75513E101	254,621	2,523	SH		SOLE		2,523	0	0
Real Estate Select SPDR	RL EST SEL SEC	81369Y860	960,845	26,018	SH		SOLE		26,018	0	0
Rush Street Interactive, Inc.	COM	782011100	51,157	14,250	SH		SOLE		14,250	0	0
Safeguard Scientifics Inc.	COM NEW	786449207	46,081	14,865	SH		SOLE		10,500	0	4,365
Schlumberger NV	COM STK	806857108	332,628	6,222	SH		SOLE		6,222	0	0
Shyft Group Inc.	COM	825698103	25,852,262	1,039,914	SH		SOLE		1,039,189	0	725
Sonder Holdings Inc	CLASS A COM	83542D102	353,400	285,000	SH		SOLE		285,000	0	0
Sonder Holdings Inc.	*W EXP 01/18/202	83542D110	11,022	136,417	SH		SOLE		136,417	0	0
SPDR S&P Biotech ETF	S&P BIOTECH	78464A870	665,826	8,022	SH		SOLE		8,022	0	0
Starbucks Corp.	COM	855244109	6,631,222	66,847	SH		SOLE		66,847	0	0
Telos Corporation	COM	87969B101	318,125	62,500	SH		SOLE		62,500	0	0
Tesla Inc.	COM	88160R101	523,515	4,250	SH		SOLE		4,250	0	0
Teva Pharmaceutical Ind. Ltd.	SPONSORED ADS	881624209	514,423	56,406	SH		SOLE		56,406	0	0
The Brinks Co.	COM	109696104	25,965,803	483,444	SH		SOLE		483,134	0	310
The Howard Hughes Corp.	COM	44267D107	218,179	2,855	SH		SOLE		2,855	0	0
thredUP, Inc. Class A	CL A	88556E102	15,362	11,727	SH		SOLE		11,727	0	0
Ulta Beauty Inc.	COM	90384S303	30,315,056	64,628	SH		SOLE		64,628	0	0
UnitedHealth Group Inc.	COM	91324P102	557,749	1,052	SH		SOLE		1,052	0	0
Utilities Select Sector	SBI INT-UTILS	81369Y886	1,044,669	14,818	SH		SOLE		14,818	0	0
VanEck Vectors Oil Services ET	OIL SERVICES ETF	92189H607	14,463,050	47,568	SH		SOLE		47,483	0	85
Vanguard Energy ETF	ENERGY ETF	92204A306	14,253,311	117,524	SH		SOLE		117,274	0	250
Verizon Communications Inc.	COM	92343V104	915,774	23,243	SH		SOLE		23,243	0	0
Vertiv Holdings Co.	COM CL A	92537N108	31,884,899	2,334,180	SH		SOLE		2,330,610	0	3,570
Viatris Inc.	COM	92556V106	423,786	38,076	SH		SOLE		38,076	0	0
Visa Inc.	COM CL A	92826C839	616,008	2,965	SH		SOLE		2,965	0	0
Walt Disney Company	COM	254687106	1,454,024	16,736	SH		SOLE		16,686	0	50
Warner Bros Discovery Inc.	COM SER A	934423104	800,008	84,389	SH		SOLE		84,298	0	91
Wells Fargo & Co.	COM	949746101	411,579	9,968	SH		SOLE		9,968	0	0
Yum China Holdings Inc.	COM	98850P109	6,757,910	123,658	SH		SOLE		123,658	0	0
Zebra Technologies Class A	CL A	989207105	217,948	850	SH		SOLE		850	0	0
ZEROFOX HLDGS INC	COM	98955G103	94,122	18,900	SH		SOLE		18,900	0	0
USHG Acquisition Corp. EXP 02/	*W EXP 02/24/202	91748P118	310	258,433	SH		SOLE		258,433	0	0
Invesco QQQ Trust Series 1	UNIT SER 1	46090E103	2,595,967	9,749	SH		SOLE		9,749	0	0
iShares Core S&P 500 ETF	CORE S&P500 ETF	464287200	301,609	785	SH		SOLE		785	0	0
iShares Core S&P U.S. Value	CORE S&P US VLU	464287663	2,226,823	31,528	SH		SOLE		31,528	0	0
iShares Russell 1000 Growth In	RUS 1000 GRW ETF	464287614	2,260,446	10,551	SH		SOLE		10,551	0	0
iShares Russell 2000 ETF	RUSSELL 2000 ETF	464287655	222,309	1,275	SH		SOLE		1,275	0	0
iShares S&P MidCap 400	CORE S&P MCP ETF	464287507	229,070	947	SH		SOLE		947	0	0
Vanguard High Dividend Yield F	HIGH DIV YLD	921946406	362,071	3,346	SH		SOLE		3,346	0	0
Vanguard Mid-Cap ETF	MID CAP ETF	922908629	3,159,463	15,502	SH		SOLE		15,502	0	0
Vanguard Russell 2000 ETF	VNG RUS2000IDX	92206C664	2,249,025	31,960	SH		SOLE		31,960	0	0
Vanguard S&P 500 ETF	S&P 500 ETF SHS	922908363	4,907,166	13,967	SH		SOLE		13,967	0	0
iShares Core MSCI Emerging ETF	CORE MSCI EMKT	46434G103	9,757,218	208,934	SH		SOLE		208,414	0	520
Vanguard FTSE Developed ETF	VAN FTSE DEV MKT	921943858	7,258,082	172,935	SH		SOLE		172,295	0	640
Vanguard FTSE Emerging Mkts ET	FTSE EMR MKT ETF	922042858	304,122	7,802	SH		SOLE		7,802	0	0
Alteryx Inc.	NOTE 0.500% 8/0	02156bad5	15,209,205	16,588,000	PRN		SOLE		16,588,000	0	0
DocuSign Inc.	NOTE 1/1	256163ad8	14,387,640	15,306,000	PRN		SOLE		15,306,000	0	0
Greenbrier Cos Inc.	NOTE 2.875% 2/0	393657ak7	910,497	965,000	PRN		SOLE		965,000	0	0
Illumina Inc	NOTE 8/1	452327AK5	6,100,164	6,315,000	PRN		SOLE		6,315,000	0	0