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
BERKSHIRE HATHAWAY INC DEL CL B 84670702 6,870 45,755 SH   SOLE   0 0 45,755
BROOKFIELD ASSET MGMT INC CL A 112585104 2,941 58,660 SH   SOLE   0 0 58,660
BROOKFIELD RESIDENTIAL PPTYS COM 11283W104 3,297 137,025 SH   SOLE   0 0 137,025
CONTINENTAL RESOURCES INC COM 212015101 2,525 65,820 SH   SOLE   0 0 65,820
CREDIT SUISSE NASSAU BRH IDX 22542D829 898 21,500 SH   SOLE   0 0 21,500
DISCOVERY COMMUNICATNS NEW COM A 25470F104 713 20,795 SH   SOLE   0 0 20,795
DISCOVERY COMMUNICATNS NEW COM C 25470F302 705 20,795 SH   SOLE   0 0 20,795
DISH NETWORK CORP CL A 25470M109 3,247 44,550 SH   SOLE   0 0 44,550
DREAMWORKS ANIMATION SKG INC CL A 26153C103 4,254 190,525 SH   SOLE   0 0 190,525
GREEN BRICK PARTNERS INC COM 392709101 472 57,500 SH   SOLE   0 0 57,500
HOWARD HUGHES CORP COM 44267D107 12,820 98,300 SH   SOLE   0 0 98,300
IAC INTERACTIVECORP COM 44919P508 1,769 29,100 SH   SOLE   0 0 29,100
ICAHN ENTERPRISES LP DEP U 451100101 10,571 114,322 SH   SOLE   0 0 114,322
IMPERIAL HLDGS INC COM 452834104 1,826 280,000 SH   SOLE   0 0 280,000
LANDS END INC NEW COM 51509F105 2,081 38,562 SH   SOLE   0 0 38,562
LIBERTY BROADBAND CORP COM C 530307305 2,080 41,749 SH   SOLE   0 0 41,749
LIBERTY BROADBAND CORP COM A 530307107 1,023 20,424 SH   SOLE   0 0 20,424
LIBERTY INTERACTIVE CORP COM A 53071M104 4,812 163,550 SH   SOLE   0 0 163,550
LIBERTY INTERACTIVE CORP COM A 53071M880 5,972 158,329 SH   SOLE   0 0 158,329
LIBERTY MEDIA CORP DELAWARE COM C 531229300 5,836 166,588 SH   SOLE   0 0 166,588
LIBERTY MEDIA CORP DELAWARE CL A 531229102 2,883 81,727 SH   SOLE   0 0 81,727
LIBERTY TRIPADVISOR HLDGS IN COM A 531465102 3,627 134,830 SH   SOLE   0 0 134,830
LIVE NATION ENTERTAINMENT IN COM 538034109 3,253 124,575 SH   SOLE   0 0 124,575
NUVEEN MUN MKT OPPORTUNITY F COM 67062W103 252 18,500 SH   SOLE   0 0 18,500
NUVEEN PERFORMANCE PLUS MUN COM 67062P108 220 14,900 SH   SOLE   0 0 14,900
PAR PETE CORP COM 69888T207 1,818 111,860 SH   SOLE   0 0 111,860
PIMCO DYNAMIC INCOME FD SHS 72201Y101 3,053 99,300 SH   SOLE   0 0 99,300
PINGTAN MARINE ENTERPRISE LT SHS G7114V102 138 49,769 SH   SOLE   0 0 49,769
PLATFORM SPECIALTY PRODS COR COM 72766Q105 2,480 106,800 SH   SOLE   0 0 106,800
RESTAURANT BRANDS INTL INC COM 76131D103 3,097 79,342 SH   SOLE   0 0 79,342
SEARS CDA INC COM 81234D109 1,948 202,466 SH   SOLE   0 0 202,466
SEARS HLDGS CORP COM 812350106 4,518 136,998 SH   SOLE   0 0 136,998
SEARS HLDGS CORP WARR 812350155 579 27,722 SH   SOLE   0 0 27,722
SEARS HOMETOWN & OUTLET STOR COM 812362101 1,576 119,847 SH   SOLE   0 0 119,847
STARZ COM A 85571Q102 2,424 81,619 SH   SOLE   0 0 81,619
TEMPLETON RUS AND EAST EUR F COM 88022F105 1,008 112,000 SH   SOLE   0 0 112,000
TEXAS PAC LD TR SUB CTF PROP I T 882610108 4,718 39,984 SH   SOLE   0 0 39,984
TRI POINTE HOMES INC COM 87265H109 5,076 332,825 SH   SOLE   0 0 332,825
WENDYS CO COM 95058W100 7,884 873,050 SH   SOLE   0 0 873,050