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
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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
ASSOCIATED CAP GROUP INC CL A 045528106   3,771,690 101,800 SH   SOLE   0 0 101,800
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702   2,767,462 7,863 SH   SOLE   0 0 7,863
BOEING CO COM 097023105   1,230,795 5,153 SH   SOLE   0 0 5,153
CACI INTL INC CL A 127190304   7,632,584 21,780 SH   SOLE   0 0 21,780
CARNIVAL CORP COMMON STOCK 143658300   5,538,960 294,000 SH   SOLE   0 0 294,000
CBOE GLOBAL MKTS INC COM 12503M108   1,254,327 8,980 SH   SOLE   0 0 8,980
CIVEO CORP CDA COM NEW 17878Y207   6,423,404 328,731 SH   SOLE   0 0 328,731
CME GROUP INC COM 12572Q105   1,500,955 7,544 SH   SOLE   0 0 7,544
DISNEY WALT CO COM 254687106   213,336 2,400 SH   SOLE   0 0 2,400
FRANCO NEV CORP COM 351858105   6,107,616 41,879 SH   SOLE   0 0 41,879
HOWARD HUGHES CORP COM 44267D107   272,287 3,225 SH   SOLE   0 0 3,225
INTERCONTINENTAL EXCHANGE IN COM 45866F104   1,197,364 10,430 SH   SOLE   0 0 10,430
INVESCO EXCHANGE TRADED FD T S&P500 EQL WGT 46137V357   351,423 2,269 SH   SOLE   0 0 2,269
ISHARES TR MSCI ACWI EX US 464288240   415,594 8,125 SH   SOLE   0 0 8,125
JOHNSON & JOHNSON COM 478160104   201,036 1,200 SH   SOLE   0 0 1,200
LIBERTY MEDIA CORP DEL COM SER C FRMLA 531229854   341,075 4,698 SH   SOLE   0 0 4,698
MESABI TR CTF BEN INT 590672101   6,909,999 351,475 SH   SOLE   0 0 351,475
PERMIAN BASIN RTY TR UNIT BEN INT 714236106   8,087,136 334,871 SH   SOLE   0 0 334,871
RENN FD INC COM 759720105   51,800 28,000 SH   SOLE   0 0 28,000
RLI CORP COM 749607107   733,755 5,500 SH   SOLE   0 0 5,500
RUMBLE INC COM CL A 78137L105   362,040 42,000 SH   SOLE   0 0 42,000
SANDSTORM GOLD LTD COM NEW 80013R206   1,623,922 292,598 SH   SOLE   0 0 292,598
TEJON RANCH CO COM 879080109   3,851,748 218,725 SH   SOLE   0 0 218,725
TEXAS PACIFIC LAND CORPORATI COM 88262P102   61,379,141 40,748 SH   SOLE   0 0 40,748
VANGUARD INDEX FDS TOTAL STK MKT 922908769   2,850,265 12,482 SH   SOLE   0 0 12,482
VANGUARD SPECIALIZED FUNDS DIV APP ETF 921908844   1,671,145 10,052 SH   SOLE   0 0 10,052
WHEATON PRECIOUS METALS CORP COM 962879102   8,538,513 190,464 SH   SOLE   0 0 190,464