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
ASSOCIATED CAP GROUP INC CL A 045528106 4,691 120,725 SH   SOLE   0 0 120,725
BOEING CO COM 097023105 2,072 8,650 SH   SOLE   0 0 8,650
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 3,899 14,028 SH   SOLE   0 0 14,028
CACI INTL INC CL A 127190304 6,475 25,380 SH   SOLE   0 0 25,380
CBOE GLOBAL MKTS INC COM 12503M108 1,370 11,510 SH   SOLE   0 0 11,510
CME GROUP INC COM 12572Q105 2,217 10,424 SH   SOLE   0 0 10,424
CIVEO CORP CDA COM NEW 17878Y207 6,738 378,565 SH   SOLE   0 0 378,565
DISNEY WALT CO COM 254687106 422 2,400 SH   SOLE   0 0 2,400
EBAY INC. COM 278642103 2,575 36,675 SH   SOLE   0 0 36,675
FRANCO NEV CORP COM 351858105 5,856 40,365 SH   SOLE   0 0 40,365
LIBERTY MEDIA CORP DEL COM SER A FRMLA 531229870 560 13,133 SH   SOLE   0 0 13,133
LIBERTY MEDIA CORP DEL COM SER C FRMLA 531229854 2,007 41,625 SH   SOLE   0 0 41,625
HOWARD HUGHES CORP COM 44267D107 4,521 46,386 SH   SOLE   0 0 46,386
INTERCONTINENTAL EXCHANGE IN COM 45866F104 1,582 13,325 SH   SOLE   0 0 13,325
LIBERTY BROADBAND CORP COM SER A 530307107 562 3,340 SH   SOLE   0 0 3,340
LIBERTY BROADBAND CORP COM SER C 530307305 2,879 16,580 SH   SOLE   0 0 16,580
LIBERTY MEDIA CORP DEL COM A SIRIUSXM 531229409 354 7,604 SH   SOLE   0 0 7,604
LIBERTY MEDIA CORP DEL COM C SIRIUSXM 531229607 1,151 24,814 SH   SOLE   0 0 24,814
MESABI TR CTF BEN INT 590672101 6,687 188,900 SH   SOLE   0 0 188,900
NUVEEN AMT FREE QLTY MUN INC COM 670657105 416 26,500 SH   SOLE   0 0 26,500
RLI CORP COM 749607107 732 7,000 SH   SOLE   0 0 7,000
SANDSTORM GOLD LTD COM NEW 80013R206 3,066 388,600 SH   SOLE   0 0 388,600
TEXAS PACIFIC LAND CORPORATI COM 88262P102 85,431 53,403 SH   SOLE   0 0 53,403
MAMMOTH ENERGY SVCS INC COM 56155L108 49 10,700 SH   SOLE   0 0 10,700
WHEATON PRECIOUS METALS CORP COM 962879102 9,538 216,427 SH   SOLE   0 0 216,427