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 272 2,200 SH   SOLE 0 0 2,200
ADTALEM GLOBAL ED INC COM 00737L103 3,701 97,525 SH   SOLE 0 0 97,525
ALLEGHANY CORP DEL COM 017175100 3,102 5,215 SH   SOLE 0 0 5,215
ALPHABET INC CAP STK CL C 02079K107 5,976 6,576 SH   SOLE 0 0 6,576
ALPHABET INC CAP STK CL A 02079K305 446 480 SH   SOLE 0 0 480
AMERICAN EXPRESS CO COM 025816109 708 8,400 SH   SOLE 0 0 8,400
ANHEUSER BUSCH INBEV SA/NV SPONSORED ADR 03524A108 1,860 16,850 SH   SOLE 0 0 16,850
APPLE INC COM 037833100 7,395 51,345 SH   SOLE 0 0 51,345
ARTISAN PARTNERS ASSET MGMT CL A 04316A108 602 19,600 SH   SOLE 0 0 19,600
BERKSHIRE HATHAWAY INC DEL CL A 084670108 5,349 21 SH   SOLE 0 0 21
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 17,250 101,847 SH   SOLE 0 0 101,847
BLACKSTONE MTG TR INC COM CL A 09257W100 204 6,450 SH   SOLE 0 0 6,450
BROOKFIELD ASSET MGMT INC CL A LTD VT SH 112585104 2,166 55,250 SH   SOLE 0 0 55,250
CANADIAN NATL RY CO COM 136375102 969 11,950 SH   SOLE 0 0 11,950
CARMAX INC COM 143130102 315 5,000 SH   SOLE 0 0 5,000
CASEYS GEN STORES INC COM 147528103 1,706 15,925 SH   SOLE 0 0 15,925
CEDAR FAIR L P DEPOSITRY UNIT 150185106 447 6,200 SH   SOLE 0 0 6,200
COSTCO WHSL CORP NEW COM 22160K105 1,973 12,335 SH   SOLE 0 0 12,335
FACEBOOK INC CL A 30303M102 284 1,880 SH   SOLE 0 0 1,880
GABELLI EQUITY TR INC COM 362397101 1,454 235,270 SH   SOLE 0 0 235,270
HOWARD HUGHES CORP COM 44267D107 4,327 35,225 SH   SOLE 0 0 35,225
ISHARES TR CORE S&P500 ETF 464287200 1,414 5,810 SH   SOLE 0 0 5,810
ISHARES TR RUS MID CAP ETF 464287499 373 1,940 SH   SOLE 0 0 1,940
JOHNSON & JOHNSON COM 478160104 4,046 30,581 SH   SOLE 0 0 30,581
JPMORGAN CHASE & CO *W EXP 10/28/201 46634E114 201 4,000 SH   SOLE 0 0 4,000
KRAFT HEINZ CO COM 500754106 423 4,940 SH   SOLE 0 0 4,940
LEUCADIA NATL CORP COM 527288104 3,676 140,518 SH   SOLE 0 0 140,518
LIBERTY GLOBAL PLC LILAC SHS CL C G5480U153 1,286 60,050 SH   SOLE 0 0 60,050
LIBERTY MEDIA CORP DELAWARE COM A SIRIUSXM 531229409 6,073 144,670 SH   SOLE 0 0 144,670
LIBERTY MEDIA CORP DELAWARE COM SER A FRMLA 531229870 3,985 113,750 SH   SOLE 0 0 113,750
LIONS GATE ENTMNT CORP CL B NON VTG 535919500 1,051 40,000 SH   SOLE 0 0 40,000
MASTERCARD INCORPORATED CL A 57636Q104 1,239 10,200 SH   SOLE 0 0 10,200
MONDELEZ INTL INC CL A 609207105 1,868 43,243 SH   SOLE 0 0 43,243
NEXEO SOLUTIONS INC COM SHS 65342H102 496 59,700 SH   SOLE 0 0 59,700
PANHANDLE OIL AND GAS INC CL A 698477106 490 21,200 SH   SOLE 0 0 21,200
PEPSICO INC COM 713448108 589 5,100 SH   SOLE 0 0 5,100
PLATFORM SPECIALTY PRODS COR COM 72766Q105 661 52,100 SH   SOLE 0 0 52,100
PRICESMART INC COM 741511109 1,759 20,080 SH   SOLE 0 0 20,080
RESTAURANT BRANDS INTL INC COM 76131D103 4,397 70,300 SH   SOLE 0 0 70,300
ROYCE MICRO-CAP TR INC COM 780915104 690 79,715 SH   SOLE 0 0 79,715
SOURCE CAP INC COM 836144105 3,140 81,238 SH   SOLE 0 0 81,238
TEXAS PAC LD TR SUB CTF PROP I T 882610108 2,872 9,775 SH   SOLE 0 0 9,775
UMH PPTYS INC COM 903002103 849 49,800 SH   SOLE 0 0 49,800
UNILEVER PLC SPON ADR NEW 904767704 325 6,000 SH   SOLE 0 0 6,000
UNION PAC CORP COM 907818108 3,108 28,539 SH   SOLE 0 0 28,539
UNITED PARCEL SERVICE INC CL B 911312106 1,955 17,675 SH   SOLE 0 0 17,675
VERISK ANALYTICS INC COM 92345Y106 612 7,250 SH   SOLE 0 0 7,250
WELLS FARGO CO NEW COM 949746101 4,711 85,025 SH   SOLE 0 0 85,025
WELLS FARGO CO NEW *W EXP 10/28/201 949746119 804 36,200 SH   SOLE 0 0 36,200
WENDYS CO COM 95058W100 580 37,400 SH   SOLE 0 0 37,400
WHITE MTNS INS GROUP LTD COM G9618E107 3,429 3,948 SH   SOLE 0 0 3,948
WYNDHAM WORLDWIDE CORP COM 98310W108 3,203 31,900 SH   SOLE 0 0 31,900