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
GANNETT CO INC COM 36473H104 671 62,725 SH   SOLE   62,725 0 0
SEMPRA ENERGY COM 816851109 443 3,818 SH   SOLE   3,818 0 0
NAVIOS MARITIME PARTNERS L P UNIT LPI Y62267102 45 23,693 SH   SOLE   23,693 0 0
BOARDWALK PIPELINE PARTNERS UT LTD PARTNER 096627104 2,123 182,721 SH   SOLE   182,720 0 0
EBAY INC COM 278642103 251 6,915 SH   SOLE   6,915 0 0
FOREST CITY RLTY TR INC COM CL A 345605109 2,504 109,763 SH   SOLE   109,762 0 0
JOHNSON & JOHNSON COM 478160104 2,958 24,379 SH   SOLE   24,379 0 0
DISCOVERY INC COM SER C 25470F302 1,008 39,538 SH   SOLE   39,538 0 0
COVANTA HLDG CORP COM 22282E102 664 40,250 SH   SOLE   40,250 0 0
VANGUARD WHITEHALL FDS INC INTL DVD ETF 921946810 330 5,100 SH   SOLE   5,100 0 0
COSTCO WHSL CORP NEW COM 22160K105 519 2,484 SH   SOLE   2,484 0 0
CROSS TIMBERS RTY TR TR UNIT 22757R109 1,728 119,275 SH   SOLE   119,275 0 0
PERMIAN BASIN RTY TR UNIT BEN INT 714236106 687 73,650 SH   SOLE   73,650 0 0
SABINE ROYALTY TR UNIT BEN INT 785688102 1,666 35,375 SH   SOLE   35,374 0 0
LIBERTY MEDIA CORP DELAWARE COM C BRAVES GRP 531229888 271 10,478 SH   SOLE   10,478 0 0
PROCTER AND GAMBLE CO COM 742718109 338 4,329 SH   SOLE   4,329 0 0
COCA COLA CO COM 191216100 2,033 46,360 SH   SOLE   46,360 0 0
OCCIDENTAL PETE CORP DEL COM 674599105 578 6,907 SH   SOLE   6,907 0 0
INTEL CORP COM 458140100 413 8,304 SH   SOLE   8,304 0 0
CLOROX CO DEL COM 189054109 205 1,519 SH   SOLE   1,519 0 0
AMERCO COM 023586100 1,436 4,031 SH   SOLE   4,031 0 0
TIDEWATER INC NEW COM 88642R109 1,707 59,005 SH   SOLE   59,005 0 0
SANOFI SPONSORED ADR 80105N105 237 5,921 SH   SOLE   5,921 0 0
MERCK & CO INC COM 58933Y105 261 4,301 SH   SOLE   4,301 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 428 1,577 SH   SOLE   1,577 0 0
EMERSON ELEC CO COM 291011104 1,679 24,283 SH   SOLE   24,283 0 0
AMERICAN NATL INS CO COM 028591105 1,452 12,141 SH   SOLE   12,141 0 0
ANNALY CAP MGMT INC COM 035710409 210 20,450 SH   SOLE   20,450 0 0
ALASKA AIR GROUP INC COM 011659109 278 4,600 SH   SOLE   4,600 0 0
ANIXTER INTL INC COM 035290105 215 3,400 SH   SOLE   3,400 0 0
CORNING INC COM 219350105 424 15,420 SH   SOLE   15,420 0 0
BANK NEW YORK MELLON CORP COM 064058100 4,093 75,890 SH   SOLE   75,890 0 0
TEGNA INC COM 87901J105 1,541 142,005 SH   SOLE   142,005 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 633 12,578 SH   SOLE   12,578 0 0
PEPSICO INC COM 713448108 345 3,171 SH   SOLE   3,171 0 0
C&J ENERGY SVCS INC NEW COM 12674R100 792 33,540 SH   SOLE   33,540 0 0
MARATHON OIL CORP COM 565849106 958 45,941 SH   SOLE   45,941 0 0
US BANCORP DEL COM NEW 902973304 805 16,091 SH   SOLE   16,091 0 0
BRIGHTHOUSE FINL INC COM 10922N103 534 13,330 SH   SOLE   13,330 0 0
DOWDUPONT INC COM 26078J100 2,556 38,774 SH   SOLE   38,774 0 0
SOUTHERN CO COM 842587107 392 8,466 SH   SOLE   8,466 0 0
BROADRIDGE FINL SOLUTIONS IN COM 11133T103 2,295 19,940 SH   SOLE   19,940 0 0
CENOVUS ENERGY INC COM 15135U109 105 10,100 SH   SOLE   10,100 0 0
CARS COM INC COM 14575E105 1,192 41,990 SH   SOLE   41,990 0 0
ENSCO PLC SHS CLASS A G3157S106 609 83,948 SH   SOLE   83,948 0 0
PATTERSON UTI ENERGY INC COM 703481101 601 33,400 SH   SOLE   33,400 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 48,797 261,438 SH   SOLE   261,438 0 0
WEYERHAEUSER CO COM 962166104 905 24,825 SH   SOLE   24,825 0 0
SOLAR CAP LTD COM 83413U100 200 9,763 SH   SOLE   9,763 0 0
PG&E CORP COM 69331C108 336 7,893 SH   SOLE   7,893 0 0
COMCAST CORP NEW CL A 20030N101 364 11,100 SH   SOLE   11,100 0 0
MICROSOFT CORP COM 594918104 6,081 61,672 SH   SOLE   61,672 0 0
CANADIAN NAT RES LTD COM 136385101 797 22,107 SH   SOLE   22,107 0 0
JEFFERIES FINL GROUP INC COM 47233W109 12,093 531,801 SH   SOLE   531,801 0 0
V F CORP COM 918204108 620 7,600 SH   SOLE   7,600 0 0
SOLITARIO ZINC CORP COM 8342EP107 6 14,300 SH   SOLE   14,300 0 0
MONMOUTH REAL ESTATE INVT CO CL A 609720107 1,023 61,903 SH   SOLE   61,903 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 2,256 8 SH   SOLE   8 0 0
ROYCE MICRO-CAP TR INC COM 780915104 1,487 148,865 SH   SOLE   148,864 0 0
ARGO GROUP INTL HLDGS LTD COM G0464B107 302 5,200 SH   SOLE   5,200 0 0
TEJON RANCH CO COM 879080109 292 12,012 SH   SOLE   12,012 0 0
VANGUARD INTL EQUITY INDEX F FTSE EUROPE ETF 922042874 352 6,265 SH   SOLE   6,265 0 0
BROOKFIELD ASSET MGMT INC CL A LTD VT SH 112585104 857 21,151 SH   SOLE   21,151 0 0
METHANEX CORP COM 59151K108 623 8,800 SH   SOLE   8,800 0 0
GENERAL AMERN INVS INC COM 368802104 3,918 114,151 SH   SOLE   114,150 0 0
GOLUB CAP BDC INC COM 38173M102 455 24,864 SH   SOLE   24,864 0 0
INVESCO EXCHANGE TRADED FD T S&P500 EQL WGT 46137V357 560 5,500 SH   SOLE   5,500 0 0
TAHOE RES INC COM 873868103 79 16,080 SH   SOLE   16,080 0 0
AIR PRODS & CHEMS INC COM 009158106 588 3,774 SH   SOLE   3,774 0 0
MEDLEY CAP CORP COM 58503F106 123 35,398 SH   SOLE   35,398 0 0
PICO HLDGS INC COM NEW 693366205 1,628 139,763 SH   SOLE   139,762 0 0
UNITED SECURITY BANCSHARES C COM 911460103 236 21,049 SH   SOLE   21,049 0 0
OAK VALLEY BANCORP OAKDALE C COM 671807105 517 22,600 SH   SOLE   22,600 0 0
AERCAP HOLDINGS NV SHS N00985106 480 8,869 SH   SOLE   8,869 0 0
SOURCE CAP INC COM 836144105 2,358 59,322 SH   SOLE   59,322 0 0
RPC INC COM 749660106 5,787 397,212 SH   SOLE   397,212 0 0
SYSCO CORP COM 871829107 842 12,325 SH   SOLE   12,325 0 0
ENTERGY CORP NEW COM 29364G103 500 6,192 SH   SOLE   6,192 0 0
EDISON INTL COM 281020107 221 3,500 SH   SOLE   3,500 0 0
CATHAY GEN BANCORP COM 149150104 425 10,500 SH   SOLE   10,500 0 0
EURONAV NV ANTWERPEN SHS B38564108 349 37,899 SH   SOLE   37,899 0 0
NEW YORK REIT INC COM NEW 64976L208 232 12,712 SH   SOLE   12,712 0 0
OAKTREE CAP GROUP LLC UNIT CL A 674001201 627 15,420 SH   SOLE   15,420 0 0
VANECK VECTORS ETF TR OIL SVCS ETF 92189F718 286 10,900 SH   SOLE   10,900 0 0
ABERDEEN EMRG MRKTS EQT INM COM 00301W105 442 63,125 SH   SOLE   63,125 0 0
ROYCE VALUE TR INC COM 780910105 1,243 78,669 SH   SOLE   78,669 0 0
CONSOLIDATED TOMOKA LD CO COM 210226106 1,903 30,939 SH   SOLE   30,939 0 0
CELGENE CORP COM 151020104 270 3,400 SH   SOLE   3,400 0 0
TRINITY PL HLDGS INC COM 89656D101 77 11,738 SH   SOLE   11,738 0 0
GEOSPACE TECHNOLOGIES CORP COM 37364X109 536 38,095 SH   SOLE   38,095 0 0
METLIFE INC COM 59156R108 454 10,402 SH   SOLE   10,402 0 0
TECHNIPFMC PLC COM G87110105 327 10,300 SH   SOLE   10,300 0 0
NOVARTIS A G SPONSORED ADR 66987V109 552 7,306 SH   SOLE   7,306 0 0
TOTAL S A SPONSORED ADR 89151E109 543 8,961 SH   SOLE   8,961 0 0
MCDERMOTT INTL INC COM 580037703 973 49,537 SH   SOLE   49,537 0 0
CIMAREX ENERGY CO COM 171798101 4,334 42,602 SH   SOLE   42,602 0 0
WHITE MTNS INS GROUP LTD COM G9618E107 25,911 28,580 SH   SOLE   28,580 0 0
ENBRIDGE ENERGY MANAGEMENT L SHS UNITS LLI 29250X103 321 31,295 SH   SOLE   31,294 0 0
TRI POINTE GROUP INC COM 87265H109 3,252 198,767 SH   SOLE   198,767 0 0
ZOETIS INC CL A 98978V103 263 3,086 SH   SOLE   3,086 0 0
BLACKSTONE GROUP L P COM UNIT LTD 09253U108 460 14,300 SH   SOLE   14,300 0 0
HALLADOR ENERGY COMPANY COM 40609P105 119 16,657 SH   SOLE   16,657 0 0
OFG BANCORP COM 67103X102 325 23,116 SH   SOLE   23,116 0 0
BLACKSTONE MTG TR INC COM CL A 09257W100 424 13,475 SH   SOLE   13,475 0 0
GENERAL DYNAMICS CORP COM 369550108 671 3,600 SH   SOLE   3,600 0 0
EQT CORP COM 26884L109 210 3,800 SH   SOLE   3,800 0 0
CISCO SYS INC COM 17275R102 696 16,169 SH   SOLE   16,169 0 0
LIBERTY GLOBAL PLC SHS CL C G5480U120 316 11,863 SH   SOLE   11,863 0 0
APACHE CORP COM 037411105 565 12,089 SH   SOLE   12,089 0 0
LENNAR CORP CL B 526057302 1,234 28,901 SH   SOLE   28,901 0 0
AT&T INC COM 00206R102 1,531 47,682 SH   SOLE   47,682 0 0
GENERAL ELECTRIC CO COM 369604103 213 15,653 SH   SOLE   15,653 0 0
REIS INC COM 75936P105 205 9,400 SH   SOLE   9,400 0 0
CONTANGO OIL & GAS COMPANY COM NEW 21075N204 140 24,593 SH   SOLE   24,593 0 0
NOBLE CORP PLC SHS USD G65431101 233 36,875 SH   SOLE   36,875 0 0
DIAMOND OFFSHORE DRILLING IN COM 25271C102 1,017 48,761 SH   SOLE   48,761 0 0
WELLS FARGO CO NEW COM 949746101 922 16,633 SH   SOLE   16,633 0 0
UNION PAC CORP COM 907818108 201 1,419 SH   SOLE   1,418 0 0
SCRIPPS E W CO OHIO CL A NEW 811054402 480 35,833 SH   SOLE   35,833 0 0
DORCHESTER MINERALS LP COM UNIT 25820R105 1,306 63,376 SH   SOLE   63,376 0 0
JPMORGAN CHASE & CO COM 46625H100 218 2,094 SH   SOLE   2,094 0 0
WESTAMERICA BANCORPORATION COM 957090103 4,048 71,633 SH   SOLE   71,633 0 0
INTL PAPER CO COM 460146103 690 13,251 SH   SOLE   13,251 0 0
HARTFORD FINL SVCS GROUP INC COM 416515104 482 9,427 SH   SOLE   9,427 0 0
CHEVRON CORP NEW COM 166764100 1,584 12,528 SH   SOLE   12,528 0 0
CONOCOPHILLIPS COM 20825C104 1,759 25,271 SH   SOLE   25,271 0 0
MARKEL CORP COM 570535104 17,353 16,003 SH   SOLE   16,003 0 0
BANK AMER CORP COM 060505104 384 13,607 SH   SOLE   13,607 0 0
NEW MEDIA INVT GROUP INC COM 64704V106 287 15,506 SH   SOLE   15,506 0 0
INTERNATIONAL BUSINESS MACHS COM 459200101 1,464 10,481 SH   SOLE   10,481 0 0
PFIZER INC COM 717081103 364 10,022 SH   SOLE   10,022 0 0
AMERICAN EXPRESS CO COM 025816109 807 8,238 SH   SOLE   8,238 0 0
AMGEN INC COM 031162100 1,107 5,995 SH   SOLE   5,995 0 0
APPLIED MATLS INC COM 038222105 565 12,234 SH   SOLE   12,234 0 0
ALLY FINL INC COM 02005N100 201 7,662 SH   SOLE   7,662 0 0
TCW STRATEGIC INCOME FUND IN COM 872340104 258 47,033 SH   SOLE   47,033 0 0
SAN JUAN BASIN RTY TR UNIT BEN INT 798241105 792 136,762 SH   SOLE   136,762 0 0
NOW INC COM 67011P100 2,912 218,452 SH   SOLE   218,452 0 0
VANGUARD GROUP DIV APP ETF 921908844 1,854 18,243 SH   SOLE   18,243 0 0
ENSTAR GROUP LIMITED SHS G3075P101 12,795 61,722 SH   SOLE   61,722 0 0
ANTERO RES CORP COM 03674X106 896 41,982 SH   SOLE   41,982 0 0
LIBERTY MEDIA CORP DELAWARE COM SER C FRMLA 531229854 599 16,122 SH   SOLE   16,122 0 0
DAILY JOURNAL CORP COM 233912104 205 889 SH   SOLE   889 0 0
LIBERTY BROADBAND CORP COM SER C 530307305 472 6,229 SH   SOLE   6,229 0 0
CALIFORNIA RES CORP COM NEW 13057Q206 3,542 77,958 SH   SOLE   77,958 0 0
CNA FINL CORP COM 126117100 1,626 35,585 SH   SOLE   35,585 0 0
COMPASS MINERALS INTL INC COM 20451N101 217 3,300 SH   SOLE   3,300 0 0
HELMERICH & PAYNE INC COM 423452101 2,276 35,700 SH   SOLE   35,700 0 0
PNC FINL SVCS GROUP INC COM 693475105 752 5,565 SH   SOLE   5,565 0 0
GRAHAM HLDGS CO COM 384637104 366 625 SH   SOLE   625 0 0
W R BERKLEY CORPORATION COM 084423102 15,461 213,521 SH   SOLE   213,520 0 0
LOEWS CORP COM 540424108 15,073 312,200 SH   SOLE   312,200 0 0
SPROTT FOCUS TR INC COM 85208J109 132 16,837 SH   SOLE   16,837 0 0
EXXON MOBIL CORP COM 30231G102 590 7,130 SH   SOLE   7,129 0 0
KEMPHARM INC COM 488445107 93 14,245 SH   SOLE   14,245 0 0
VODAFONE GROUP PLC NEW SPONSORED ADR 92857W308 459 18,877 SH   SOLE   18,877 0 0
CABLE ONE INC COM 12685J105 458 625 SH   SOLE   625 0 0
CHEMOURS CO COM 163851108 261 5,882 SH   SOLE   5,882 0 0
PAYPAL HLDGS INC COM 70450Y103 564 6,773 SH   SOLE   6,773 0 0
SCHWAB CHARLES CORP NEW COM 808513105 2,419 47,335 SH   SOLE   47,334 0 0
APPLE INC COM 037833100 1,513 8,174 SH   SOLE   8,173 0 0
ABBOTT LABS COM 002824100 1,860 30,504 SH   SOLE   30,503 0 0
ALLEGHANY CORP DEL COM 017175100 22,013 38,286 SH   SOLE   38,286 0 0
FAIRFAX FINL HLDGS LTD SUB VTG STOCK 303901102 13,221 23,567 SH   SOLE   23,567 0 0