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
ASSOCIATED CAP GROUP INC CL A 045528106 5,017 116,675 SH   SOLE   0 0 116,675
BOEING CO COM 097023105 1,703 8,460 SH   SOLE   0 0 8,460
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 3,350 11,203 SH   SOLE   0 0 11,203
CACI INTL INC CL A 127190304 6,678 24,805 SH   SOLE   0 0 24,805
CBOE GLOBAL MKTS INC COM 12503M108 1,475 11,315 SH   SOLE   0 0 11,315
CME GROUP INC COM 12572Q105 2,214 9,689 SH   SOLE   0 0 9,689
CIVEO CORP CDA COM NEW 17878Y207 7,015 365,922 SH   SOLE   0 0 365,922
DISNEY WALT CO COM 254687106 372 2,400 SH   SOLE   0 0 2,400
EBAY INC. COM 278642103 2,339 35,175 SH   SOLE   0 0 35,175
FRANCO NEV CORP COM 351858105 5,548 40,115 SH   SOLE   0 0 40,115
LIBERTY MEDIA CORP DEL COM SER A FRMLA 531229870 234 3,950 SH   SOLE   0 0 3,950
LIBERTY MEDIA CORP DEL COM SER C FRMLA 531229854 1,206 19,075 SH   SOLE   0 0 19,075
GAMCO INVS INC CL A COM 361438104 657 26,300 SH   SOLE   0 0 26,300
HOWARD HUGHES CORP COM 44267D107 2,669 26,227 SH   SOLE   0 0 26,227
INTERCONTINENTAL EXCHANGE IN COM 45866F104 1,770 12,940 SH   SOLE   0 0 12,940
JOHNSON & JOHNSON COM 478160104 205 1,200 SH   SOLE   0 0 1,200
LIBERTY BROADBAND CORP COM SER A 530307107 214 1,328 SH   SOLE   0 0 1,328
LIBERTY BROADBAND CORP COM SER C 530307305 1,249 7,752 SH   SOLE   0 0 7,752
LIBERTY MEDIA CORP DEL COM C SIRIUSXM 531229607 272 5,354 SH   SOLE   0 0 5,354
MESABI TR CTF BEN INT 590672101 5,089 192,625 SH   SOLE   0 0 192,625
NUVEEN AMT FREE QLTY MUN INC COM 670657105 413 26,500 SH   SOLE   0 0 26,500
RENN FD INC COM 759720105 56 21,000 SH   SOLE   0 0 21,000
RLI CORP COM 749607107 785 7,000 SH   SOLE   0 0 7,000
SANDSTORM GOLD LTD COM NEW 80013R206 1,091 175,900 SH   SOLE   0 0 175,900
TEXAS PACIFIC LAND CORPORATI COM 88262P102 63,896 51,163 SH   SOLE   0 0 51,163
TEJON RANCH CO COM 879080109 5,022 263,225 SH   SOLE   0 0 263,225
MAMMOTH ENERGY SVCS INC COM 56155L108 19 10,700 SH   SOLE   0 0 10,700
WHEATON PRECIOUS METALS CORP COM 962879102 8,933 208,077 SH   SOLE   0 0 208,077
POWER & DIGITAL INFRA ACQ CO COM CL A 739190106 1,745 159,400 SH   SOLE   0 0 159,400