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
BROOKFIELD ASSET MGMT INC CL A 112585104 2,781 79,063 SH   SOLE   0 0 79,063
BERKSHIRE HATHAWAY INC DEL CL B 084670702 5,714 39,554 SH   SOLE   0 0 39,554
COMMERCEHUB INC COM SER A 20084V108 210 13,316 SH   SOLE   0 0 13,316
COMMERCEHUB INC COM SER C 20084V306 424 26,681 SH   SOLE   0 0 26,681
CONTINENTAL RESOURCES INC COM 212015101 1,945 37,438 SH   SOLE   0 0 37,438
DISNEY WALT CO COM 254687106 223 2,400 SH   SOLE   0 0 2,400
DISH NETWORK CORP CL A 25470M109 2,250 41,075 SH   SOLE   0 0 41,075
EMERGENT CAP INC COM 29102N105 920 313,873 SH   SOLE   0 0 313,873
GREEN BRICK PARTNERS INC COM 392709101 1,580 191,250 SH   SOLE   0 0 191,250
HOWARD HUGHES CORP COM 44267D107 10,064 87,893 SH   SOLE   0 0 87,893
ICAHN ENTERPRISES LP DPU 451100101 6,767 133,868 SH   SOLE   0 0 133,868
JOHNSON & JOHNSON COM 478160104 284 2,400 SH   SOLE   0 0 2,400
LIBERTY BROADBAND CORP COM SER A 530307107 1,172 16,708 SH   SOLE   0 0 16,708
LIBERTY BROADBAND CORP COM SER C 530307305 3,343 46,769 SH   SOLE   0 0 46,769
LIBERTY MEDIA CORP DELAWARE COM A MEDIA 531229870 495 17,268 SH   SOLE   0 0 17,268
LIBERTY MEDIA CORP DELAWARE COM C MEDIA 531229854 1,013 36,011 SH   SOLE   0 0 36,011
LIBERTY MEDIA CORP DELAWARE COM A SIRIUS 531229409 2,351 69,198 SH   SOLE   0 0 69,198
LIBERTY MEDIA CORP DELAWARE COM C SIRIUS 531229607 4,832 144,637 SH   SOLE   0 0 144,637
LIBERTY INTERACTIVE CORP LBT VENT COM A 53071M880 5,390 135,201 SH   SOLE   0 0 135,201
NUVEEN AMT FREE QLTY MUN INC COM 670657105 483 33,097 SH   SOLE   0 0 33,097
NAVIGATOR HOLDINGS LTD SHS Y62132108 600 83,400 SH   SOLE   0 0 83,400
PLATFORM SPECIALTY PRODS COR COM 72766Q105 2,019 248,975 SH   SOLE   0 0 248,975
PERSHING GOLD CORP COM 715302204 1,052 232,308 SH   SOLE   0 0 232,308
PINGTAN MARINE ENTERPRISE LT SHS G7114V102 54 49,769 SH   SOLE   0 0 49,769
RLI CORP COM 749607107 534 7,810 SH   SOLE   0 0 7,810
ECHOSTAR CORP CL A 278768106 2,095 47,800 SH   SOLE   0 0 47,800
SEARS HLDGS CORP COM 812350106 1,353 118,067 SH   SOLE   0 0 118,067
SEARS HLDGS CORP EXP 12/15/19 812350155 80 23,475 SH   SOLE   0 0 23,475
SILVER WHEATON CORP COM 828336107 6,572 243,150 SH   SOLE   0 0 243,150
SEARS CDA INC COM 81234D109 407 166,036 SH   SOLE   0 0 166,036
STARZ COM SER A 85571Q102 2,162 69,316 SH   SOLE   0 0 69,316
TEXAS PAC LD TR SUB CTF 882610108 10,014 41,840 SH   SOLE   0 0 41,840