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 |
ABBOTT LABS | COM | 002824100 | 1,438 | 34,387 | SH | | SOLE | | 34,387 | 0 | 0 |
ACCURIDE CORP NEW | COM NEW | 00439T206 | 55 | 35,400 | SH | | SOLE | | 35,400 | 0 | 0 |
AIR PRODS & CHEMS INC | COM | 009158106 | 614 | 4,262 | SH | | SOLE | | 4,262 | 0 | 0 |
ALLEGHANY CORP DEL | COM | 017175100 | 19,132 | 38,558 | SH | | SOLE | | 38,558 | 0 | 0 |
AMERICAN CAP LTD | COM | 02503Y103 | 223 | 14,616 | SH | | SOLE | | 14,616 | 0 | 0 |
AMERICAN EXPRESS CO | COM | 025816109 | 388 | 6,314 | SH | | SOLE | | 6,314 | 0 | 0 |
AMERICAN NATL INS CO | COM | 028591105 | 1,792 | 15,518 | SH | | SOLE | | 15,518 | 0 | 0 |
AMGEN INC | COM | 031162100 | 855 | 5,706 | SH | | SOLE | | 5,706 | 0 | 0 |
ANIXTER INTL INC | COM | 035290105 | 208 | 4,000 | SH | | SOLE | | 4,000 | 0 | 0 |
ANNALY CAP MGMT INC | COM | 035710409 | 345 | 33,600 | SH | | SOLE | | 33,600 | 0 | 0 |
APACHE CORP | COM | 037411105 | 224 | 4,594 | SH | | SOLE | | 4,594 | 0 | 0 |
APPLE INC | COM | 037833100 | 1,073 | 9,849 | SH | | SOLE | | 9,849 | 0 | 0 |
APPLIED MATLS INC | COM | 038222105 | 412 | 19,434 | SH | | SOLE | | 19,434 | 0 | 0 |
ARGO GROUP INTL HLDGS LTD | COM | G0464B107 | 245 | 4,269 | SH | | SOLE | | 4,269 | 0 | 0 |
AT&T INC | COM | 00206R102 | 1,516 | 38,691 | SH | | SOLE | | 38,691 | 0 | 0 |
ATWOOD OCEANICS INC | COM | 050095108 | 159 | 17,345 | SH | | SOLE | | 17,345 | 0 | 0 |
AXIALL CORP | COM | 05463D100 | 314 | 14,355 | SH | | SOLE | | 14,355 | 0 | 0 |
BANK AMER CORP | COM | 060505104 | 339 | 25,070 | SH | | SOLE | | 25,070 | 0 | 0 |
BANK NEW YORK MELLON CORP | COM | 064058100 | 3,315 | 90,021 | SH | | SOLE | | 90,021 | 0 | 0 |
BERKLEY W R CORP | COM | 084423102 | 13,087 | 232,862 | SH | | SOLE | | 232,862 | 0 | 0 |
BERKSHIRE HATHAWAY INC DEL | CL A | 084670108 | 1,708 | 8 | SH | | SOLE | | 8 | 0 | 0 |
BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 | 39,210 | 276,360 | SH | | SOLE | | 276,360 | 0 | 0 |
BLACKSTONE GROUP L P | COM UNIT LTD | 09253U108 | 519 | 18,500 | SH | | SOLE | | 18,500 | 0 | 0 |
BLACKSTONE MTG TR INC | COM CL A | 09257W100 | 391 | 14,575 | SH | | SOLE | | 14,575 | 0 | 0 |
BOARDWALK PIPELINE PARTNERS | UT LTD PARTNER | 096627104 | 1,230 | 83,438 | SH | | SOLE | | 83,438 | 0 | 0 |
BROADRIDGE FINL SOLUTIONS IN | COM | 11133T103 | 1,406 | 23,700 | SH | | SOLE | | 23,700 | 0 | 0 |
BROOKFIELD ASSET MGMT INC | CL A LTD VT SH | 112585104 | 1,089 | 31,296 | SH | | SOLE | | 31,296 | 0 | 0 |
CABLE ONE INC | COM | 12685J105 | 317 | 725 | SH | | SOLE | | 725 | 0 | 0 |
CALIFORNIA RES CORP | COM | 13057Q107 | 128 | 124,372 | SH | | SOLE | | 124,372 | 0 | 0 |
CAMECO CORP | COM | 13321L108 | 155 | 12,103 | SH | | SOLE | | 12,103 | 0 | 0 |
CATHAY GEN BANCORP | COM | 149150104 | 306 | 10,800 | SH | | SOLE | | 10,800 | 0 | 0 |
CBL & ASSOC PPTYS INC | COM | 124830100 | 358 | 30,113 | SH | | SOLE | | 30,113 | 0 | 0 |
CHESAPEAKE ENERGY CORP | COM | 165167107 | 408 | 98,910 | SH | | SOLE | | 98,910 | 0 | 0 |
CHEVRON CORP NEW | COM | 166764100 | 1,506 | 15,790 | SH | | SOLE | | 15,790 | 0 | 0 |
CHICAGO BRIDGE & IRON CO N V | COM | 167250109 | 2,993 | 81,793 | SH | | SOLE | | 81,793 | 0 | 0 |
CIMAREX ENERGY CO | COM | 171798101 | 4,726 | 48,585 | SH | | SOLE | | 48,585 | 0 | 0 |
CISCO SYS INC | COM | 17275R102 | 658 | 23,106 | SH | | SOLE | | 23,106 | 0 | 0 |
CLOROX CO DEL | COM | 189054109 | 354 | 2,810 | SH | | SOLE | | 2,810 | 0 | 0 |
CNA FINL CORP | COM | 126117100 | 1,199 | 37,263 | SH | | SOLE | | 37,263 | 0 | 0 |
COCA COLA CO | COM | 191216100 | 3,481 | 75,043 | SH | | SOLE | | 75,043 | 0 | 0 |
CONOCOPHILLIPS | COM | 20825C104 | 201 | 4,990 | SH | | SOLE | | 4,990 | 0 | 0 |
CONSOL ENERGY INC | COM | 20854P109 | 118 | 10,450 | SH | | SOLE | | 10,450 | 0 | 0 |
CONSOLIDATED TOMOKA LD CO | COM | 210226106 | 1,474 | 31,952 | SH | | SOLE | | 31,952 | 0 | 0 |
CORNING INC | COM | 219350105 | 510 | 24,430 | SH | | SOLE | | 24,430 | 0 | 0 |
COVANTA HLDG CORP | COM | 22282E102 | 679 | 40,250 | SH | | SOLE | | 40,250 | 0 | 0 |
CROSS TIMBERS RTY TR | TR UNIT | 22757R109 | 684 | 44,900 | SH | | SOLE | | 44,900 | 0 | 0 |
DEVON ENERGY CORP NEW | COM | 25179M103 | 2,719 | 99,080 | SH | | SOLE | | 99,080 | 0 | 0 |
DIAMOND OFFSHORE DRILLING IN | COM | 25271C102 | 837 | 38,496 | SH | | SOLE | | 38,496 | 0 | 0 |
DOW CHEM CO | COM | 260543103 | 365 | 7,174 | SH | | SOLE | | 7,174 | 0 | 0 |
DU PONT E I DE NEMOURS & CO | COM | 263534109 | 1,799 | 28,414 | SH | | SOLE | | 28,414 | 0 | 0 |
EBAY INC | COM | 278642103 | 221 | 9,255 | SH | | SOLE | | 9,255 | 0 | 0 |
EDISON INTL | COM | 281020107 | 252 | 3,500 | SH | | SOLE | | 3,500 | 0 | 0 |
EMERSON ELEC CO | COM | 291011104 | 1,232 | 22,654 | SH | | SOLE | | 22,654 | 0 | 0 |
ENCANA CORP | COM | 292505104 | 166 | 27,300 | SH | | SOLE | | 27,300 | 0 | 0 |
ENSCO PLC | SHS CLASS A | G3157S106 | 210 | 20,204 | SH | | SOLE | | 20,204 | 0 | 0 |
ENSTAR GROUP LIMITED | SHS | G3075P101 | 6,641 | 40,848 | SH | | SOLE | | 40,848 | 0 | 0 |
ENTERGY CORP NEW | COM | 29364G103 | 622 | 7,850 | SH | | SOLE | | 7,850 | 0 | 0 |
ENTERPRISE PRODS PARTNERS L | COM | 293792107 | 203 | 8,264 | SH | | SOLE | | 8,264 | 0 | 0 |
EQT CORP | COM | 26884L109 | 262 | 3,900 | SH | | SOLE | | 3,900 | 0 | 0 |
EXPRESS SCRIPTS HLDG CO | COM | 30219G108 | 587 | 8,549 | SH | | SOLE | | 8,549 | 0 | 0 |
EXXON MOBIL CORP | COM | 30231G102 | 434 | 5,189 | SH | | SOLE | | 5,189 | 0 | 0 |
Fairfax Financial Hldgs Ltd | COM | 303901102 | 11,714 | 20,917 | SH | | SOLE | | 20,917 | 0 | 0 |
FORTRESS INVESTMENT GROUP LL | CL A | 34958B106 | 442 | 92,460 | SH | | SOLE | | 92,460 | 0 | 0 |
GANNETT CO INC | COM | 36473H104 | 1,244 | 82,165 | SH | | SOLE | | 82,165 | 0 | 0 |
GENERAL AMERN INVS INC | COM | 368802104 | 4,613 | 147,725 | SH | | SOLE | | 147,725 | 0 | 0 |
GENERAL DYNAMICS CORP | COM | 369550108 | 539 | 4,102 | SH | | SOLE | | 4,102 | 0 | 0 |
GENERAL ELECTRIC CO | COM | 369604103 | 462 | 14,521 | SH | | SOLE | | 14,521 | 0 | 0 |
GEOSPACE TECHNOLOGIES CORP | COM | 37364X109 | 288 | 23,365 | SH | | SOLE | | 23,365 | 0 | 0 |
GOLUB CAP BDC INC | COM | 38173M102 | 301 | 17,400 | SH | | SOLE | | 17,400 | 0 | 0 |
GRAHAM HLDGS CO | COM | 384637104 | 348 | 725 | SH | | SOLE | | 725 | 0 | 0 |
GRAN TIERRA ENERGY INC | COM | 38500T101 | 30 | 12,000 | SH | | SOLE | | 12,000 | 0 | 0 |
GREIF INC | CL B | 397624206 | 1,453 | 31,047 | SH | | SOLE | | 31,047 | 0 | 0 |
HALLADOR ENERGY COMPANY | COM | 40609P105 | 88 | 19,170 | SH | | SOLE | | 19,170 | 0 | 0 |
HARTFORD FINL SVCS GROUP INC | COM | 416515104 | 650 | 14,100 | SH | | SOLE | | 14,100 | 0 | 0 |
HELMERICH & PAYNE INC | COM | 423452101 | 705 | 12,000 | SH | | SOLE | | 12,000 | 0 | 0 |
IDT CORP | CL B NEW | 448947507 | 209 | 13,419 | SH | | SOLE | | 13,419 | 0 | 0 |
INTEL CORP | COM | 458140100 | 418 | 12,931 | SH | | SOLE | | 12,931 | 0 | 0 |
INTERNATIONAL BUSINESS MACHS | COM | 459200101 | 2,360 | 15,579 | SH | | SOLE | | 15,579 | 0 | 0 |
INTL PAPER CO | COM | 460146103 | 659 | 16,052 | SH | | SOLE | | 16,052 | 0 | 0 |
INVESTORS BANCORP INC NEW | COM | 46146L101 | 121 | 10,358 | SH | | SOLE | | 10,358 | 0 | 0 |
JOHNSON & JOHNSON | COM | 478160104 | 3,351 | 30,969 | SH | | SOLE | | 30,969 | 0 | 0 |
KLONDEX MNS LTD | COM | 498696103 | 29 | 11,000 | SH | | SOLE | | 11,000 | 0 | 0 |
LENNAR CORP | CL B | 526057302 | 808 | 20,875 | SH | | SOLE | | 20,875 | 0 | 0 |
LEUCADIA NATL CORP | COM | 527288104 | 7,203 | 445,456 | SH | | SOLE | | 445,456 | 0 | 0 |
LIBERTY BROADBAND CORP | COM SER C | 530307305 | 399 | 6,882 | SH | | SOLE | | 6,882 | 0 | 0 |
LIBERTY GLOBAL PLC | SHS CL A | G5480U104 | 204 | 5,304 | SH | | SOLE | | 5,304 | 0 | 0 |
LIBERTY GLOBAL PLC | SHS CL C | G5480U120 | 492 | 13,111 | SH | | SOLE | | 13,111 | 0 | 0 |
LIBERTY MEDIA CORP DELAWARE | CL A | 531229102 | 423 | 10,956 | SH | | SOLE | | 10,956 | 0 | 0 |
LIBERTY MEDIA CORP DELAWARE | COM SER C | 531229300 | 2,897 | 76,069 | SH | | SOLE | | 76,069 | 0 | 0 |
LOEWS CORP | COM | 540424108 | 11,309 | 295,581 | SH | | SOLE | | 295,581 | 0 | 0 |
MARATHON OIL CORP | COM | 565849106 | 210 | 18,825 | SH | | SOLE | | 18,825 | 0 | 0 |
MARKEL CORP | COM | 570535104 | 15,418 | 17,293 | SH | | SOLE | | 17,293 | 0 | 0 |
MARKET VECTORS ETF TR | OIL SVCS ETF | 57060U191 | 319 | 12,000 | SH | | SOLE | | 12,000 | 0 | 0 |
MCCLATCHY CO | CL A | 579489105 | 26 | 25,000 | SH | | SOLE | | 25,000 | 0 | 0 |
MCDERMOTT INTL INC | COM | 580037109 | 170 | 41,500 | SH | | SOLE | | 41,500 | 0 | 0 |
MEDTRONIC PLC | SHS | G5960L103 | 400 | 5,332 | SH | | SOLE | | 5,332 | 0 | 0 |
MERCK & CO INC NEW | COM | 58933Y105 | 295 | 5,578 | SH | | SOLE | | 5,578 | 0 | 0 |
METLIFE INC | COM | 59156R108 | 536 | 12,205 | SH | | SOLE | | 12,205 | 0 | 0 |
MFC BANCORP LTD | COM | 55278T105 | 45 | 22,886 | SH | | SOLE | | 22,886 | 0 | 0 |
MICROSOFT CORP | COM | 594918104 | 4,408 | 79,803 | SH | | SOLE | | 79,803 | 0 | 0 |
MONMOUTH REAL ESTATE INVT CO | CL A | 609720107 | 998 | 83,928 | SH | | SOLE | | 83,928 | 0 | 0 |
NABORS INDUSTRIES LTD | SHS | G6359F103 | 523 | 56,887 | SH | | SOLE | | 56,887 | 0 | 0 |
NEW MEDIA INVT GROUP INC | COM | 64704V106 | 468 | 28,106 | SH | | SOLE | | 28,106 | 0 | 0 |
NOBLE CORP PLC | SHS USD | G65431101 | 399 | 38,575 | SH | | SOLE | | 38,575 | 0 | 0 |
NOVARTIS A G | SPONSORED ADR | 66987V109 | 647 | 8,926 | SH | | SOLE | | 8,926 | 0 | 0 |
NOW INC | COM | 67011P100 | 899 | 50,760 | SH | | SOLE | | 50,760 | 0 | 0 |
NRG ENERGY INC | COM NEW | 629377508 | 138 | 10,623 | SH | | SOLE | | 10,623 | 0 | 0 |
OAK VALLEY BANCORP OAKDALE C | COM | 671807105 | 242 | 26,125 | SH | | SOLE | | 26,125 | 0 | 0 |
OAKTREE CAP GROUP LLC | UNIT CL A | 674001201 | 296 | 6,000 | SH | | SOLE | | 6,000 | 0 | 0 |
OCCIDENTAL PETE CORP DEL | COM | 674599105 | 629 | 9,188 | SH | | SOLE | | 9,188 | 0 | 0 |
OFG BANCORP | COM | 67103X102 | 209 | 29,916 | SH | | SOLE | | 29,916 | 0 | 0 |
OMNICOM GROUP INC | COM | 681919106 | 200 | 2,400 | SH | | SOLE | | 2,400 | 0 | 0 |
PATTERSON UTI ENERGY INC | COM | 703481101 | 620 | 35,200 | SH | | SOLE | | 35,200 | 0 | 0 |
PAYPAL HLDGS INC | COM | 70450Y103 | 336 | 8,703 | SH | | SOLE | | 8,703 | 0 | 0 |
PERMIAN BASIN RTY TR | UNIT BEN INT | 714236106 | 475 | 77,150 | SH | | SOLE | | 77,150 | 0 | 0 |
PFIZER INC | COM | 717081103 | 547 | 18,444 | SH | | SOLE | | 18,444 | 0 | 0 |
PG&E CORP | COM | 69331C108 | 221 | 3,703 | SH | | SOLE | | 3,703 | 0 | 0 |
PICO HLDGS INC | COM NEW | 693366205 | 1,281 | 125,260 | SH | | SOLE | | 125,260 | 0 | 0 |
PNC FINL SVCS GROUP INC | COM | 693475105 | 523 | 6,190 | SH | | SOLE | | 6,190 | 0 | 0 |
PROCTER & GAMBLE CO | COM | 742718109 | 470 | 5,711 | SH | | SOLE | | 5,711 | 0 | 0 |
REIS INC | COM | 75936P105 | 221 | 9,400 | SH | | SOLE | | 9,400 | 0 | 0 |
RENAISSANCERE HOLDINGS LTD | COM | G7496G103 | 240 | 2,000 | SH | | SOLE | | 2,000 | 0 | 0 |
RESOLUTE FST PRODS INC | COM | 76117W109 | 71 | 12,800 | SH | | SOLE | | 12,800 | 0 | 0 |
ROYCE GLOBAL VALUE TR INC | COM | 78081T104 | 85 | 11,578 | SH | | SOLE | | 11,578 | 0 | 0 |
ROYCE MICRO-CAP TR INC | COM | 780915104 | 751 | 107,238 | SH | | SOLE | | 107,238 | 0 | 0 |
ROYCE VALUE TR INC | COM | 780910105 | 977 | 83,405 | SH | | SOLE | | 83,405 | 0 | 0 |
RPC INC | COM | 749660106 | 5,733 | 404,267 | SH | | SOLE | | 404,267 | 0 | 0 |
SAN JUAN BASIN RTY TR | UNIT BEN INT | 798241105 | 723 | 140,396 | SH | | SOLE | | 140,396 | 0 | 0 |
SCRIPPS E W CO OHIO | CL A NEW | 811054402 | 640 | 41,033 | SH | | SOLE | | 41,033 | 0 | 0 |
SEMPRA ENERGY | COM | 816851109 | 497 | 4,777 | SH | | SOLE | | 4,777 | 0 | 0 |
SNYDERS-LANCE INC | COM | 833551104 | 406 | 12,886 | SH | | SOLE | | 12,886 | 0 | 0 |
SOURCE CAP INC | COM | 836144105 | 2,070 | 58,111 | SH | | SOLE | | 58,111 | 0 | 0 |
SOUTHERN CO | COM | 842587107 | 438 | 8,466 | SH | | SOLE | | 8,466 | 0 | 0 |
SPDR S&P 500 ETF TR | TR UNIT | 78462F103 | 225 | 1,095 | SH | | SOLE | | 1,095 | 0 | 0 |
STARZ | COM SER A | 85571Q102 | 280 | 10,618 | SH | | SOLE | | 10,618 | 0 | 0 |
STRAIGHT PATH COMMUNICATNS I | CL B | 862578101 | 209 | 6,721 | SH | | SOLE | | 6,721 | 0 | 0 |
SYSCO CORP | COM | 871829107 | 845 | 18,080 | SH | | SOLE | | 18,080 | 0 | 0 |
TCW STRATEGIC INCOME FUND IN | COM | 872340104 | 281 | 53,918 | SH | | SOLE | | 53,918 | 0 | 0 |
TEGNA INC | COM | 87901J105 | 3,847 | 164,000 | SH | | SOLE | | 164,000 | 0 | 0 |
TIDEWATER INC | COM | 886423102 | 72 | 10,600 | SH | | SOLE | | 10,600 | 0 | 0 |
TIMMINS GOLD CORP | COM | 88741P103 | 2 | 10,000 | SH | | SOLE | | 10,000 | 0 | 0 |
TRI POINTE GROUP INC | COM | 87265H109 | 2,196 | 186,393 | SH | | SOLE | | 186,393 | 0 | 0 |
UNITED SECURITY BANCSHARES C | COM | 911460103 | 99 | 20,038 | SH | | SOLE | | 20,038 | 0 | 0 |
US BANCORP DEL | COM NEW | 902973304 | 876 | 21,591 | SH | | SOLE | | 21,591 | 0 | 0 |
V F CORP | COM | 918204108 | 492 | 7,604 | SH | | SOLE | | 7,604 | 0 | 0 |
VANGUARD SPECIALIZED PORTFOL | DIV APP ETF | 921908844 | 1,468 | 18,071 | SH | | SOLE | | 18,071 | 0 | 0 |
VERIZON COMMUNICATIONS INC | COM | 92343V104 | 737 | 13,637 | SH | | SOLE | | 13,637 | 0 | 0 |
VODAFONE GROUP PLC NEW | SPNSR ADR NO PAR | 92857W308 | 784 | 24,456 | SH | | SOLE | | 24,456 | 0 | 0 |
W & T OFFSHORE INC | COM | 92922P106 | 22 | 10,000 | SH | | SOLE | | 10,000 | 0 | 0 |
WAL-MART STORES INC | COM | 931142103 | 486 | 7,097 | SH | | SOLE | | 7,097 | 0 | 0 |
WATERSTONE FINL INC MD | COM | 94188P101 | 145 | 10,602 | SH | | SOLE | | 10,602 | 0 | 0 |
WELLS FARGO & CO NEW | COM | 949746101 | 1,307 | 27,017 | SH | | SOLE | | 27,017 | 0 | 0 |
WESTAMERICA BANCORPORATION | COM | 957090103 | 4,070 | 83,563 | SH | | SOLE | | 83,563 | 0 | 0 |
WEYERHAEUSER CO | COM | 962166104 | 927 | 29,929 | SH | | SOLE | | 29,929 | 0 | 0 |
WHITE MTNS INS GROUP LTD | COM | G9618E107 | 25,215 | 31,416 | SH | | SOLE | | 31,416 | 0 | 0 |
WILEY JOHN & SONS INC | CL A | 968223206 | 579 | 11,850 | SH | | SOLE | | 11,850 | 0 | 0 |