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 338 2,200 SH   SOLE   0 0 2,200
ALLEGHANY CORP DEL COM 017175100 3,088 5,025 SH   SOLE   0 0 5,025
ALPHABET INC CAP STK CL A 02079K305 498 480 SH   SOLE   0 0 480
ALPHABET INC CAP STK CL C 02079K107 7,347 7,121 SH   SOLE   0 0 7,121
AMAZON COM INC COM 023135106 220 152 SH   SOLE   0 0 152
AMERICAN EXPRESS CO COM 025816109 807 8,652 SH   SOLE   0 0 8,652
ANHEUSER BUSCH INBEV SA/NV SPONSORED ADR 03524A108 4,745 43,160 SH   SOLE   0 0 43,160
APPLE INC COM 037833100 8,681 51,739 SH   SOLE   0 0 51,739
ARTISAN PARTNERS ASSET MGMT CL A 04316A108 720 21,631 SH   SOLE   0 0 21,631
BSB BANCORP INC MD COM 05573H108 200 6,542 SH   SOLE   0 0 6,542
BERKSHIRE HATHAWAY INC DEL CL A 084670108 6,580 22 SH   SOLE   0 0 22
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 21,740 108,984 SH   SOLE   0 0 108,984
BLACKSTONE MTG TR INC COM CL A 09257W100 286 9,112 SH   SOLE   0 0 9,112
BLUE HILLS BANCORP INC COM 095573101 719 34,503 SH   SOLE   0 0 34,503
BROOKFIELD ASSET MGMT INC CL A LTD VT SH 112585104 2,628 67,375 SH   SOLE   0 0 67,375
CANADIAN NATL RY CO COM 136375102 856 11,700 SH   SOLE   0 0 11,700
CARMAX INC COM 143130102 310 5,000 SH   SOLE   0 0 5,000
CASEYS GEN STORES INC COM 147528103 1,980 18,040 SH   SOLE   0 0 18,040
CEDAR FAIR L P DEPOSITRY UNIT 150185106 396 6,200 SH   SOLE   0 0 6,200
COSTCO WHSL CORP NEW COM 22160K105 2,264 12,015 SH   SOLE   0 0 12,015
EQUIFAX INC COM 294429105 554 4,700 SH   SOLE   0 0 4,700
FS BANCORP INC COM 30263Y104 227 4,240 SH   SOLE   0 0 4,240
FACEBOOK INC CL A 30303M102 300 1,880 SH   SOLE   0 0 1,880
GABELLI EQUITY TR INC COM 362397101 1,770 289,193 SH   SOLE   0 0 289,193
GENERAL ELECTRIC CO COM 369604103 1,289 95,600 SH   SOLE   0 0 95,600
GRANITE PT MTG TR INC COM 38741l107 165 10,000 SH   SOLE   0 0 10,000
HOWARD HUGHES CORP COM 44267D107 5,282 37,965 SH   SOLE   0 0 37,965
ISHARES TR CORE S&P500 ETF 464287200 1,568 5,910 SH   SOLE   0 0 5,910
ISHARES TR RUS MID CAP ETF 464287499 400 1,940 SH   SOLE   0 0 1,940
JOHNSON & JOHNSON COM 478160104 3,884 30,308 SH   SOLE   0 0 30,308
LEUCADIA NATL CORP COM 527288104 1,002 44,070 SH   SOLE   0 0 44,070
LIBERTY LATIN AMERICA LTD COM CL C g9001e128 1,104 57,818 SH   SOLE   0 0 57,818
LIBERTY MEDIA CORP DELAWARE COM SER A FRMLA 531229870 3,191 108,957 SH   SOLE   0 0 108,957
LIBERTY MEDIA CORP DELAWARE COM A SIRIUSXM 531229409 6,526 158,784 SH   SOLE   0 0 158,784
LIONS GATE ENTMNT CORP CL B NON VTG 535919500 1,059 43,964 SH   SOLE   0 0 43,964
MASTERCARD INCORPORATED CL A 57636Q104 1,752 10,000 SH   SOLE   0 0 10,000
MONDELEZ INTL INC CL A 609207105 1,400 33,543 SH   SOLE   0 0 33,543
NEXEO SOLUTIONS INC COM SHS 65342H102 166 15,500 SH   SOLE   0 0 15,500
PANHANDLE OIL AND GAS INC CL A 698477106 351 18,200 SH   SOLE   0 0 18,200
PEPSICO INC COM 713448108 557 5,100 SH   SOLE   0 0 5,100
PLATFORM SPECIALTY PRODS COR COM 72766Q105 195 20,300 SH   SOLE   0 0 20,300
PRICESMART INC COM 741511109 1,531 18,330 SH   SOLE   0 0 18,330
RENN FD INC COM 759720105 78 59,396 SH   SOLE   0 0 59,396
RESTAURANT BRANDS INTL INC COM 76131D103 627 11,015 SH   SOLE   0 0 11,015
ROYCE MICRO-CAP TR INC COM 780915104 806 86,075 SH   SOLE   0 0 86,075
SERVICEMASTER GLOBAL HLDGS I COM 81761R109 366 7,200 SH   SOLE   0 0 7,200
SOURCE CAP INC COM 836144105 4,819 120,781 SH   SOLE   0 0 120,781
STORE CAP CORP COM 862121100 534 21,500 SH   SOLE   0 0 21,500
TEXAS PAC LD TR SUB CTF PROP I T 882610108 4,900 9,694 SH   SOLE   0 0 9,694
TIDEWATER INC NEW COM 88642R109 510 17,819 SH   SOLE   0 0 17,819
UMH PPTYS INC COM 903002103 945 70,486 SH   SOLE   0 0 70,486
UNILEVER PLC SPON ADR NEW 904767704 333 6,000 SH   SOLE   0 0 6,000
UNION PAC CORP COM 907818108 3,628 26,990 SH   SOLE   0 0 26,990
UNITED PARCEL SERVICE INC CL B 911312106 1,575 15,045 SH   SOLE   0 0 15,045
VERISK ANALYTICS INC COM 92345Y106 858 8,250 SH   SOLE   0 0 8,250
WELLS FARGO CO NEW COM 949746101 4,435 84,625 SH   SOLE   0 0 84,625
WENDYS CO COM 95058W100 481 27,400 SH   SOLE   0 0 27,400
WHITE MTNS INS GROUP LTD COM G9618E107 3,212 3,905 SH   SOLE   0 0 3,905
WYNDHAM WORLDWIDE CORP COM 98310W108 3,487 30,475 SH   SOLE   0 0 30,475
BANK AMER CORP *W EXP 01/16/201 060505146 236 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 68 21,762 SH   SOLE   0 0 21,762
WELLS FARGO CO NEW *W EXP 10/28/201 949746119 972 50,600 SH   SOLE   0 0 50,600