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 |
AT&T INC | COM | 00206R102 | 1,525 | 35,860 | SH | | SOLE | | 35,860 | 0 | 0 |
ABBOTT LABS | COM | 002824100 | 1,250 | 32,533 | SH | | SOLE | | 32,533 | 0 | 0 |
ABERDEEN LATIN AMER EQTY FD | COM | 00306K106 | 527 | 26,642 | SH | | SOLE | | 26,642 | 0 | 0 |
AIR PRODS & CHEMS INC | COM | 009158106 | 555 | 3,862 | SH | | SOLE | | 3,862 | 0 | 0 |
ALLEGHANY CORP DEL | COM | 017175100 | 23,328 | 38,361 | SH | | SOLE | | 38,361 | 0 | 0 |
AMERCO | COM | 023586100 | 1,183 | 3,201 | SH | | SOLE | | 3,201 | 0 | 0 |
AMERICAN CAP LTD | COM | 02503Y103 | 246 | 13,700 | SH | | SOLE | | 13,700 | 0 | 0 |
AMERICAN EXPRESS CO | COM | 025816109 | 691 | 9,321 | SH | | SOLE | | 9,321 | 0 | 0 |
AMERICAN NATL INS CO | COM | 028591105 | 1,803 | 14,471 | SH | | SOLE | | 14,471 | 0 | 0 |
AMGEN INC | COM | 031162100 | 1,022 | 6,990 | SH | | SOLE | | 6,990 | 0 | 0 |
ANIXTER INTL INC | COM | 035290105 | 324 | 4,000 | SH | | SOLE | | 4,000 | 0 | 0 |
ANNALY CAP MGMT INC | COM | 035710409 | 360 | 36,100 | SH | | SOLE | | 36,100 | 0 | 0 |
ANTERO RES CORP | COM | 03674X106 | 428 | 18,100 | SH | | SOLE | | 18,100 | 0 | 0 |
APACHE CORP | COM | 037411105 | 292 | 4,594 | SH | | SOLE | | 4,594 | 0 | 0 |
APPLE INC | COM | 037833100 | 1,232 | 10,637 | SH | | SOLE | | 10,637 | 0 | 0 |
APPLIED MATLS INC | COM | 038222105 | 559 | 17,334 | SH | | SOLE | | 17,334 | 0 | 0 |
ARGO GROUP INTL HLDGS LTD | COM | G0464B107 | 308 | 4,679 | SH | | SOLE | | 4,679 | 0 | 0 |
ATWOOD OCEANICS INC | COM | 050095108 | 278 | 21,145 | SH | | SOLE | | 21,145 | 0 | 0 |
BANK AMER CORP | COM | 060505104 | 557 | 25,202 | SH | | SOLE | | 25,202 | 0 | 0 |
BANK NEW YORK MELLON CORP | COM | 064058100 | 4,162 | 87,840 | SH | | SOLE | | 87,840 | 0 | 0 |
BERKLEY W R CORP | COM | 084423102 | 15,238 | 229,106 | SH | | SOLE | | 229,106 | 0 | 0 |
BERKSHIRE HATHAWAY INC DEL | CL A | 084670108 | 1,953 | 8 | SH | | SOLE | | 8 | 0 | 0 |
BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 | 45,400 | 278,561 | SH | | SOLE | | 278,561 | 0 | 0 |
BLACKSTONE GROUP L P | COM UNIT LTD | 09253U108 | 496 | 18,361 | SH | | SOLE | | 18,361 | 0 | 0 |
BLACKSTONE MTG TR INC | COM CL A | 09257W100 | 438 | 14,575 | SH | | SOLE | | 14,575 | 0 | 0 |
BOARDWALK PIPELINE PARTNERS | UT LTD PARTNER | 096627104 | 2,065 | 118,925 | SH | | SOLE | | 118,925 | 0 | 0 |
BP PLC | SPONSORED ADR | 055622104 | 200 | 5,343 | SH | | SOLE | | 5,343 | 0 | 0 |
BROADRIDGE FINL SOLUTIONS IN | COM | 11133T103 | 1,571 | 23,700 | SH | | SOLE | | 23,700 | 0 | 0 |
BROOKFIELD ASSET MGMT INC | CL A LTD VT SH | 112585104 | 965 | 29,221 | SH | | SOLE | | 29,221 | 0 | 0 |
CNA FINL CORP | COM | 126117100 | 2,032 | 48,973 | SH | | SOLE | | 48,973 | 0 | 0 |
CABLE ONE INC | COM | 12685J105 | 451 | 725 | SH | | SOLE | | 725 | 0 | 0 |
CAMECO CORP | COM | 13321L108 | 127 | 12,103 | SH | | SOLE | | 12,103 | 0 | 0 |
CATHAY GEN BANCORP | COM | 149150104 | 411 | 10,800 | SH | | SOLE | | 10,800 | 0 | 0 |
CHESAPEAKE ENERGY CORP | COM | 165167107 | 196 | 27,875 | SH | | SOLE | | 27,875 | 0 | 0 |
CHEVRON CORP NEW | COM | 166764100 | 1,870 | 15,884 | SH | | SOLE | | 15,884 | 0 | 0 |
CHICAGO BRIDGE & IRON CO N V | COM | 167250109 | 2,453 | 77,268 | SH | | SOLE | | 77,268 | 0 | 0 |
CIMAREX ENERGY CO | COM | 171798101 | 6,572 | 48,362 | SH | | SOLE | | 48,362 | 0 | 0 |
CISCO SYS INC | COM | 17275R102 | 693 | 22,934 | SH | | SOLE | | 22,934 | 0 | 0 |
CLOROX CO DEL | COM | 189054109 | 298 | 2,484 | SH | | SOLE | | 2,484 | 0 | 0 |
COCA COLA CO | COM | 191216100 | 1,957 | 47,200 | SH | | SOLE | | 47,200 | 0 | 0 |
COMCAST CORP NEW | CL A | 20030N101 | 213 | 3,084 | SH | | SOLE | | 3,084 | 0 | 0 |
CONOCOPHILLIPS | COM | 20825C104 | 1,383 | 27,581 | SH | | SOLE | | 27,581 | 0 | 0 |
CONSOL ENERGY INC | COM | 20854P109 | 191 | 10,450 | SH | | SOLE | | 10,450 | 0 | 0 |
CONSOLIDATED TOMOKA LD CO | COM | 210226106 | 1,970 | 36,885 | SH | | SOLE | | 36,885 | 0 | 0 |
CONTANGO OIL & GAS COMPANY | COM NEW | 21075N204 | 179 | 19,193 | SH | | SOLE | | 19,193 | 0 | 0 |
CORNING INC | COM | 219350105 | 479 | 19,743 | SH | | SOLE | | 19,743 | 0 | 0 |
COVANTA HLDG CORP | COM | 22282E102 | 628 | 40,250 | SH | | SOLE | | 40,250 | 0 | 0 |
CROSS TIMBERS RTY TR | TR UNIT | 22757R109 | 935 | 52,046 | SH | | SOLE | | 52,046 | 0 | 0 |
DAILY JOURNAL CORP | COM | 233912104 | 215 | 889 | SH | | SOLE | | 889 | 0 | 0 |
DEVON ENERGY CORP NEW | COM | 25179M103 | 4,326 | 94,726 | SH | | SOLE | | 94,726 | 0 | 0 |
DIAMOND OFFSHORE DRILLING IN | COM | 25271C102 | 668 | 37,750 | SH | | SOLE | | 37,750 | 0 | 0 |
DORCHESTER MINERALS LP | COM UNIT | 25820R105 | 418 | 23,816 | SH | | SOLE | | 23,816 | 0 | 0 |
DOW CHEM CO | COM | 260543103 | 410 | 7,174 | SH | | SOLE | | 7,174 | 0 | 0 |
DU PONT E I DE NEMOURS & CO | COM | 263534109 | 2,086 | 28,414 | SH | | SOLE | | 28,414 | 0 | 0 |
EBAY INC | COM | 278642103 | 257 | 8,655 | SH | | SOLE | | 8,655 | 0 | 0 |
EDISON INTL | COM | 281020107 | 252 | 3,500 | SH | | SOLE | | 3,500 | 0 | 0 |
EMERSON ELEC CO | COM | 291011104 | 1,526 | 27,364 | SH | | SOLE | | 27,364 | 0 | 0 |
ENSCO PLC | SHS CLASS A | G3157S106 | 232 | 23,906 | SH | | SOLE | | 23,906 | 0 | 0 |
ENSTAR GROUP LIMITED | SHS | G3075P101 | 10,869 | 54,975 | SH | | SOLE | | 54,975 | 0 | 0 |
ENTERGY CORP NEW | COM | 29364G103 | 577 | 7,850 | SH | | SOLE | | 7,850 | 0 | 0 |
ENTERPRISE PRODS PARTNERS L | COM | 293792107 | 224 | 8,266 | SH | | SOLE | | 8,266 | 0 | 0 |
EQT CORP | COM | 26884L109 | 255 | 3,900 | SH | | SOLE | | 3,900 | 0 | 0 |
EXXON MOBIL CORP | COM | 30231G102 | 489 | 5,412 | SH | | SOLE | | 5,412 | 0 | 0 |
FAIRFAX FINANCIAL HLDGS LTD | FRFHF | 303901102 | 9,983 | 20,512 | SH | | SOLE | | 20,512 | 0 | 0 |
FOREST CITY RLTY TR INC | COM CL A | 345605109 | 2,617 | 125,578 | SH | | SOLE | | 125,578 | 0 | 0 |
FORTRESS INVESTMENT GROUP LL | CL A | 34958B106 | 585 | 120,460 | SH | | SOLE | | 120,460 | 0 | 0 |
GANNETT CO INC | COM | 36473H104 | 787 | 81,065 | SH | | SOLE | | 81,065 | 0 | 0 |
GENER8 MARITIME INC | COM | Y26889108 | 78 | 17,500 | SH | | SOLE | | 17,500 | 0 | 0 |
GENERAL DYNAMICS CORP | COM | 369550108 | 708 | 4,102 | SH | | SOLE | | 4,102 | 0 | 0 |
GENERAL ELECTRIC CO | COM | 369604103 | 459 | 14,525 | SH | | SOLE | | 14,525 | 0 | 0 |
GENERAL AMERN INVS INC | COM | 368802104 | 4,533 | 145,367 | SH | | SOLE | | 145,367 | 0 | 0 |
GEOSPACE TECHNOLOGIES CORP | COM | 37364X109 | 664 | 32,595 | SH | | SOLE | | 32,595 | 0 | 0 |
GOLUB CAP BDC INC | COM | 38173M102 | 278 | 15,100 | SH | | SOLE | | 15,100 | 0 | 0 |
GRAHAM HLDGS CO | COM | 384637104 | 371 | 725 | SH | | SOLE | | 725 | 0 | 0 |
GRAN TIERRA ENERGY INC | COM | 38500T101 | 36 | 12,000 | SH | | SOLE | | 12,000 | 0 | 0 |
GREIF INC | CL B | 397624206 | 1,920 | 28,422 | SH | | SOLE | | 28,422 | 0 | 0 |
HALLADOR ENERGY COMPANY | COM | 40609P105 | 181 | 19,952 | SH | | SOLE | | 19,952 | 0 | 0 |
HARMAN INTL INDS INC | COM | 413086109 | 222 | 2,000 | SH | | SOLE | | 2,000 | 0 | 0 |
HARTFORD FINL SVCS GROUP INC | COM | 416515104 | 553 | 11,600 | SH | | SOLE | | 11,600 | 0 | 0 |
HELMERICH & PAYNE INC | COM | 423452101 | 1,509 | 19,500 | SH | | SOLE | | 19,500 | 0 | 0 |
IDT CORP | CL B NEW | 448947507 | 249 | 13,426 | SH | | SOLE | | 13,426 | 0 | 0 |
INTEL CORP | COM | 458140100 | 444 | 12,245 | SH | | SOLE | | 12,245 | 0 | 0 |
INTERNATIONAL BUSINESS MACHS | COM | 459200101 | 2,454 | 14,785 | SH | | SOLE | | 14,785 | 0 | 0 |
INTL PAPER CO | COM | 460146103 | 852 | 16,052 | SH | | SOLE | | 16,052 | 0 | 0 |
JOHNSON & JOHNSON | COM | 478160104 | 3,557 | 30,872 | SH | | SOLE | | 30,872 | 0 | 0 |
KLONDEX MNS LTD | COM | 498696103 | 51 | 11,000 | SH | | SOLE | | 11,000 | 0 | 0 |
LENNAR CORP | CL B | 526057302 | 845 | 24,500 | SH | | SOLE | | 24,500 | 0 | 0 |
LEUCADIA NATL CORP | COM | 527288104 | 11,118 | 478,196 | SH | | SOLE | | 478,196 | 0 | 0 |
LIBERTY BROADBAND CORP | COM SER C | 530307305 | 502 | 6,774 | SH | | SOLE | | 6,774 | 0 | 0 |
LIBERTY GLOBAL PLC | SHS CL C | G5480U120 | 385 | 12,964 | SH | | SOLE | | 12,964 | 0 | 0 |
LIBERTY MEDIA CORP DELAWARE | COM C BRAVES GRP | 531229888 | 260 | 12,637 | SH | | SOLE | | 12,637 | 0 | 0 |
LIBERTY MEDIA CORP DELAWARE | COM A SIRIUSXM | 531229409 | 376 | 10,901 | SH | | SOLE | | 10,901 | 0 | 0 |
LIBERTY MEDIA CORP DELAWARE | COM C SIRIUSXM | 531229607 | 2,563 | 75,560 | SH | | SOLE | | 75,560 | 0 | 0 |
LIBERTY MEDIA CORP DELAWARE | COM C MEDIA GRP | 531229854 | 580 | 18,507 | SH | | SOLE | | 18,507 | 0 | 0 |
LOEWS CORP | COM | 540424108 | 14,078 | 300,620 | SH | | SOLE | | 300,620 | 0 | 0 |
MARATHON OIL CORP | COM | 565849106 | 784 | 45,275 | SH | | SOLE | | 45,275 | 0 | 0 |
MARKEL CORP | COM | 570535104 | 16,658 | 18,417 | SH | | SOLE | | 18,417 | 0 | 0 |
MEDTRONIC INC | MDT | G5960L103 | 380 | 5,328 | SH | | SOLE | | 5,328 | 0 | 0 |
MCDERMOTT INTL INC | COM | 580037109 | 170 | 23,000 | SH | | SOLE | | 23,000 | 0 | 0 |
MERCK & CO INC | COM | 58933Y105 | 329 | 5,594 | SH | | SOLE | | 5,594 | 0 | 0 |
METHANEX CORP | COM | 59151K108 | 407 | 9,300 | SH | | SOLE | | 9,300 | 0 | 0 |
METLIFE INC | COM | 59156R108 | 697 | 12,930 | SH | | SOLE | | 12,930 | 0 | 0 |
MICROSOFT CORP | COM | 594918104 | 4,881 | 78,545 | SH | | SOLE | | 78,545 | 0 | 0 |
MONMOUTH REAL ESTATE INVT CO | CL A | 609720107 | 1,173 | 76,978 | SH | | SOLE | | 76,978 | 0 | 0 |
NABORS INDUSTRIES LTD | SHS | G6359F103 | 171 | 10,400 | SH | | SOLE | | 10,400 | 0 | 0 |
NEW MEDIA INVT GROUP INC | COM | 64704V106 | 433 | 27,106 | SH | | SOLE | | 27,106 | 0 | 0 |
NOBLE CORP PLC | SHS USD | G65431101 | 217 | 36,675 | SH | | SOLE | | 36,675 | 0 | 0 |
NOVARTIS A G | SPONSORED ADR | 66987V109 | 650 | 8,924 | SH | | SOLE | | 8,924 | 0 | 0 |
NOW INC | COM | 67011P100 | 1,134 | 55,375 | SH | | SOLE | | 55,375 | 0 | 0 |
OAK VALLEY BANCORP OAKDALE C | COM | 671807105 | 328 | 26,125 | SH | | SOLE | | 26,125 | 0 | 0 |
OAKTREE CAP GROUP LLC | UNIT CL A | 674001201 | 573 | 15,280 | SH | | SOLE | | 15,280 | 0 | 0 |
OCCIDENTAL PETE CORP DEL | COM | 674599105 | 656 | 9,210 | SH | | SOLE | | 9,210 | 0 | 0 |
OFG BANCORP | COM | 67103X102 | 392 | 29,916 | SH | | SOLE | | 29,916 | 0 | 0 |
OMNICOM GROUP INC | COM | 681919106 | 204 | 2,400 | SH | | SOLE | | 2,400 | 0 | 0 |
PICO HLDGS INC | COM NEW | 693366205 | 1,820 | 120,107 | SH | | SOLE | | 120,107 | 0 | 0 |
PATTERSON UTI ENERGY INC | COM | 703481101 | 948 | 35,200 | SH | | SOLE | | 35,200 | 0 | 0 |
PAYPAL HLDGS INC | COM | 70450Y103 | 344 | 8,703 | SH | | SOLE | | 8,703 | 0 | 0 |
PERMIAN BASIN RTY TR | UNIT BEN INT | 714236106 | 589 | 76,450 | SH | | SOLE | | 76,450 | 0 | 0 |
PETROBRAS ARGENTINA S A | SPONS ADR | 71646J109 | 73 | 10,427 | SH | | SOLE | | 10,427 | 0 | 0 |
PFIZER INC | COM | 717081103 | 592 | 18,213 | SH | | SOLE | | 18,213 | 0 | 0 |
PG&E CORP | COM | 69331C108 | 225 | 3,703 | SH | | SOLE | | 3,703 | 0 | 0 |
PHARMATHENE INC | COM | 71714G102 | 33 | 10,000 | SH | | SOLE | | 10,000 | 0 | 0 |
PIONEER NAT RES CO | COM | 723787107 | 206 | 1,146 | SH | | SOLE | | 1,146 | 0 | 0 |
PNC FINL SVCS GROUP INC | COM | 693475105 | 723 | 6,184 | SH | | SOLE | | 6,184 | 0 | 0 |
PROCTER AND GAMBLE CO | COM | 742718109 | 444 | 5,282 | SH | | SOLE | | 5,282 | 0 | 0 |
REIS INC | COM | 75936P105 | 209 | 9,400 | SH | | SOLE | | 9,400 | 0 | 0 |
RENAISSANCERE HOLDINGS LTD | COM | G7496G103 | 240 | 1,762 | SH | | SOLE | | 1,762 | 0 | 0 |
RESOLUTE FST PRODS INC | COM | 76117W109 | 55 | 10,300 | SH | | SOLE | | 10,300 | 0 | 0 |
ROYCE GLOBAL VALUE TR INC | COM | 78081T104 | 89 | 11,114 | SH | | SOLE | | 11,114 | 0 | 0 |
ROYCE MICRO-CAP TR INC | COM | 780915104 | 1,034 | 126,720 | SH | | SOLE | | 126,720 | 0 | 0 |
ROYCE VALUE TR INC | COM | 780910105 | 1,093 | 81,639 | SH | | SOLE | | 81,639 | 0 | 0 |
RPC INC | COM | 749660106 | 7,901 | 398,860 | SH | | SOLE | | 398,860 | 0 | 0 |
SJW GROUP | COM | 784305104 | 214 | 3,816 | SH | | SOLE | | 3,816 | 0 | 0 |
SPDR S&P 500 ETF TR | TR UNIT | 78462F103 | 272 | 1,219 | SH | | SOLE | | 1,219 | 0 | 0 |
SABINE ROYALTY TR | UNIT BEN INT | 785688102 | 1,116 | 31,757 | SH | | SOLE | | 31,757 | 0 | 0 |
SAN JUAN BASIN RTY TR | UNIT BEN INT | 798241105 | 954 | 144,050 | SH | | SOLE | | 144,050 | 0 | 0 |
SCRIPPS E W CO OHIO | CL A NEW | 811054402 | 747 | 38,633 | SH | | SOLE | | 38,633 | 0 | 0 |
SEMPRA ENERGY | COM | 816851109 | 481 | 4,777 | SH | | SOLE | | 4,777 | 0 | 0 |
SNYDERS-LANCE INC | COM | 833551104 | 494 | 12,886 | SH | | SOLE | | 12,886 | 0 | 0 |
SOURCE CAP INC | COM | 836144105 | 2,258 | 62,805 | SH | | SOLE | | 62,805 | 0 | 0 |
SYSCO CORP | COM | 871829107 | 923 | 16,675 | SH | | SOLE | | 16,675 | 0 | 0 |
TCW STRATEGIC INCOME FUND IN | COM | 872340104 | 314 | 58,918 | SH | | SOLE | | 58,918 | 0 | 0 |
TEGNA INC | COM | 87901J105 | 3,465 | 162,000 | SH | | SOLE | | 162,000 | 0 | 0 |
SOUTHERN CO | COM | 842587107 | 416 | 8,466 | SH | | SOLE | | 8,466 | 0 | 0 |
TIMMINS GOLD CORP | COM | 88741P103 | 13 | 40,000 | SH | | SOLE | | 40,000 | 0 | 0 |
TOTAL S A | SPONSORED ADR | 89151E109 | 365 | 7,161 | SH | | SOLE | | 7,161 | 0 | 0 |
TRI POINTE GROUP INC | COM | 87265H109 | 2,520 | 219,539 | SH | | SOLE | | 219,539 | 0 | 0 |
US BANCORP DEL | COM NEW | 902973304 | 1,109 | 21,591 | SH | | SOLE | | 21,591 | 0 | 0 |
UNITED SECURITY BANCSHARES C | COM | 911460103 | 160 | 20,639 | SH | | SOLE | | 20,639 | 0 | 0 |
V F CORP | COM | 918204108 | 405 | 7,600 | SH | | SOLE | | 7,600 | 0 | 0 |
VANGUARD SPECIALIZED PORTFOL | DIV APP ETF | 921908844 | 1,898 | 22,283 | SH | | SOLE | | 22,283 | 0 | 0 |
VERIZON COMMUNICATIONS INC | COM | 92343V104 | 631 | 11,814 | SH | | SOLE | | 11,814 | 0 | 0 |
VODAFONE GROUP PLC NEW | SPNSR ADR | 92857W308 | 530 | 21,676 | SH | | SOLE | | 21,676 | 0 | 0 |
W & T OFFSHORE INC | COM | 92922P106 | 42 | 15,250 | SH | | SOLE | | 15,250 | 0 | 0 |
WAL-MART STORES INC | COM | 931142103 | 455 | 6,578 | SH | | SOLE | | 6,578 | 0 | 0 |
WELLS FARGO & CO NEW | COM | 949746101 | 1,440 | 26,137 | SH | | SOLE | | 26,137 | 0 | 0 |
WESTAMERICA BANCORPORATION | COM | 957090103 | 5,142 | 81,712 | SH | | SOLE | | 81,712 | 0 | 0 |
WEYERHAEUSER CO | COM | 962166104 | 872 | 28,971 | SH | | SOLE | | 28,971 | 0 | 0 |
WHITE MTNS INS GROUP LTD | COM | G9618E107 | 25,578 | 30,594 | SH | | SOLE | | 30,594 | 0 | 0 |
WILEY JOHN & SONS INC | CL A | 968223206 | 646 | 11,850 | SH | | SOLE | | 11,850 | 0 | 0 |