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
ACCENTURE PLC IRELAND SHS CLASS A G1151C101 360 2,200 SH   SOLE   0 0 2,200
ALASKA AIR GROUP INC COM 011659109 254 4,200 SH   SOLE   0 0 4,200
ALLEGHANY CORP DEL COM 017175100 2,875 5,000 SH   SOLE   0 0 5,000
ALPHABET INC CAP STK CL A 02079K305 542 480 SH   SOLE   0 0 480
ALPHABET INC CAP STK CL C 02079K107 8,017 7,186 SH   SOLE   0 0 7,186
AMAZON COM INC COM 023135106 258 152 SH   SOLE   0 0 152
AMERICAN EXPRESS CO COM 025816109 848 8,652 SH   SOLE   0 0 8,652
ANHEUSER BUSCH INBEV SA/NV SPONSORED ADR 03524A108 4,286 42,540 SH   SOLE   0 0 42,540
APPLE INC COM 037833100 9,568 51,689 SH   SOLE   0 0 51,689
ARTISAN PARTNERS ASSET MGMT CL A 04316A108 648 21,481 SH   SOLE   0 0 21,481
BSB BANCORP INC MD COM 05573H108 225 6,542 SH   SOLE   0 0 6,542
BERKSHIRE HATHAWAY INC DEL CL A 084670108 6,205 22 SH   SOLE   0 0 22
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 20,390 109,240 SH   SOLE   0 0 109,240
BLACKSTONE MTG TR INC COM CL A 09257W100 288 9,165 SH   SOLE   0 0 9,165
BLUE HILLS BANCORP INC COM 095573101 755 34,015 SH   SOLE   0 0 34,015
BROOKFIELD ASSET MGMT INC CL A LTD VT SH 112585104 2,731 67,375 SH   SOLE   0 0 67,375
CANADIAN NATL RY CO COM 136375102 891 10,900 SH   SOLE   0 0 10,900
CARMAX INC COM 143130102 364 5,000 SH   SOLE   0 0 5,000
CASEYS GEN STORES INC COM 147528103 1,284 12,215 SH   SOLE   0 0 12,215
CEDAR FAIR L P DEPOSITRY UNIT 150185106 391 6,200 SH   SOLE   0 0 6,200
COSTCO WHSL CORP NEW COM 22160K105 2,511 12,015 SH   SOLE   0 0 12,015
EQUIFAX INC COM 294429105 588 4,700 SH   SOLE   0 0 4,700
FS BANCORP INC COM 30263Y104 268 4,240 SH   SOLE   0 0 4,240
FACEBOOK INC CL A 30303M102 390 2,005 SH   SOLE   0 0 2,005
GABELLI EQUITY TR INC COM 362397101 1,858 296,739 SH   SOLE   0 0 296,739
GENERAL ELECTRIC CO COM 369604103 1,153 84,750 SH   SOLE   0 0 84,750
GRANITE PT MTG TR INC COM 38741l107 183 10,000 SH   SOLE   0 0 10,000
HOWARD HUGHES CORP COM 44267D107 5,015 37,850 SH   SOLE   0 0 37,850
ISHARES TR CORE S&P500 ETF 464287200 1,614 5,910 SH   SOLE   0 0 5,910
ISHARES TR RUS MID CAP ETF 464287499 412 1,940 SH   SOLE   0 0 1,940
JEFFERIES FINL GROUP INC COM 47233W109 782 34,370 SH   SOLE   0 0 34,370
JOHNSON & JOHNSON COM 478160104 3,681 30,338 SH   SOLE   0 0 30,338
LIBERTY LATIN AMERICA LTD COM CL C g9001e128 1,121 57,818 SH   SOLE   0 0 57,818
LIBERTY MEDIA CORP DELAWARE COM SER A FRMLA 531229870 3,784 107,157 SH   SOLE   0 0 107,157
LIBERTY MEDIA CORP DELAWARE COM A SIRIUSXM 531229409 7,720 171,364 SH   SOLE   0 0 171,364
LIONS GATE ENTMNT CORP CL B NON VTG 535919500 1,031 43,964 SH   SOLE   0 0 43,964
MASTERCARD INCORPORATED CL A 57636Q104 1,965 10,000 SH   SOLE   0 0 10,000
MONDELEZ INTL INC CL A 609207105 1,375 33,543 SH   SOLE   0 0 33,543
PANHANDLE OIL AND GAS INC CL A 698477106 348 18,200 SH   SOLE   0 0 18,200
PEPSICO INC COM 713448108 555 5,100 SH   SOLE   0 0 5,100
PLATFORM SPECIALTY PRODS COR COM 72766Q105 167 14,400 SH   SOLE   0 0 14,400
PRICESMART INC COM 741511109 1,659 18,330 SH   SOLE   0 0 18,330
RENN FD INC COM 759720105 91 59,396 SH   SOLE   0 0 59,396
ROYCE MICRO-CAP TR INC COM 780915104 875 87,585 SH   SOLE   0 0 87,585
SEASPAN CORP SHS Y75638109 3,526 346,400 SH   SOLE   0 0 346,400
SERVICEMASTER GLOBAL HLDGS I COM 81761R109 428 7,200 SH   SOLE   0 0 7,200
SOURCE CAP INC COM 836144105 4,943 124,343 SH   SOLE   0 0 124,343
STORE CAP CORP COM 862121100 589 21,500 SH   SOLE   0 0 21,500
TEXAS PAC LD TR SUB CTF PROP I T 882610108 7,084 10,187 SH   SOLE   0 0 10,187
TIDEWATER INC NEW COM 88642R109 614 21,219 SH   SOLE   0 0 21,219
UMH PPTYS INC COM 903002103 1,084 70,617 SH   SOLE   0 0 70,617
UNILEVER PLC SPON ADR NEW 904767704 332 6,000 SH   SOLE   0 0 6,000
UNION PAC CORP COM 907818108 3,785 26,715 SH   SOLE   0 0 26,715
UNITED FIRE GROUP INC COM 910340108 693 12,706 SH   SOLE   0 0 12,706
VERISK ANALYTICS INC COM 92345Y106 888 8,250 SH   SOLE   0 0 8,250
WELLS FARGO CO NEW COM 949746101 5,769 104,050 SH   SOLE   0 0 104,050
WHITE MTNS INS GROUP LTD COM G9618E107 3,540 3,905 SH   SOLE   0 0 3,905
WYNDHAM HOTELS & RESORTS INC COM 98311A105 1,793 30,475 SH   SOLE   0 0 30,475
RYMAN HOSPITALITY PPTYS INC COM 78377T107 208 2,500 SH   SOLE   0 0 2,500
BANK AMER CORP *W EXP 01/16/201 060505146 212 13,000 SH   SOLE   0 0 13,000
TIDEWATER INC NEW *W EXP 07/31/202 88642r117 70 20,130 SH   SOLE   0 0 20,130
TIDEWATER INC NEW *W EXP 07/31/202 88642r125 60 21,762 SH   SOLE   0 0 21,762
WELLS FARGO CO NEW *W EXP 10/28/201 949746119 1,108 50,300 SH   SOLE   0 0 50,300