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 394 48,275 SH   SOLE   48,275 0 0
SEMPRA ENERGY COM 816851109 468 3,402 SH   SOLE   3,402 0 0
EBAY INC COM 278642103 245 6,200 SH   SOLE   6,200 0 0
JOHNSON & JOHNSON COM 478160104 3,068 22,031 SH   SOLE   22,031 0 0
DISCOVERY INC COM SER C 25470F302 1,087 38,198 SH   SOLE   38,198 0 0
COVANTA HLDG CORP COM 22282E102 721 40,250 SH   SOLE   40,250 0 0
VANGUARD WHITEHALL FDS INC INTL DVD ETF 921946810 308 4,520 SH   SOLE   4,520 0 0
COSTCO WHSL CORP NEW COM 22160K105 655 2,479 SH   SOLE   2,479 0 0
CROSS TIMBERS RTY TR TR UNIT 22757R109 1,633 129,170 SH   SOLE   129,169 0 0
PERMIAN BASIN RTY TR UNIT BEN INT 714236106 404 66,543 SH   SOLE   66,543 0 0
SABINE ROYALTY TR UNIT BEN INT 785688102 1,773 36,943 SH   SOLE   36,943 0 0
LIBERTY MEDIA CORP DELAWARE COM C BRAVES GRP 531229888 273 9,752 SH   SOLE   9,752 0 0
PROCTER AND GAMBLE CO COM 742718109 453 4,128 SH   SOLE   4,127 0 0
OCCIDENTAL PETE CORP COM 674599105 541 10,757 SH   SOLE   10,757 0 0
INTEL CORP COM 458140100 468 9,782 SH   SOLE   9,782 0 0
CLOROX CO DEL COM 189054109 230 1,500 SH   SOLE   1,500 0 0
AMERCO COM 023586100 1,808 4,776 SH   SOLE   4,776 0 0
TIDEWATER INC NEW COM 88642R109 1,337 56,944 SH   SOLE   56,944 0 0
SANOFI SPONSORED ADR 80105N105 221 5,100 SH   SOLE   5,100 0 0
MERCK & CO INC COM 58933Y105 317 3,782 SH   SOLE   3,782 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 433 1,477 SH   SOLE   1,477 0 0
EMERSON ELEC CO COM 291011104 1,623 24,332 SH   SOLE   24,331 0 0
AMERICAN NATL INS CO COM 028591105 1,354 11,624 SH   SOLE   11,624 0 0
ANNALY CAP MGMT INC COM 035710409 146 16,000 SH   SOLE   16,000 0 0
ALASKA AIR GROUP INC COM 011659109 262 4,100 SH   SOLE   4,100 0 0
ANIXTER INTL INC COM 035290105 203 3,400 SH   SOLE   3,400 0 0
CORNING INC COM 219350105 502 15,120 SH   SOLE   15,120 0 0
CONTURA ENERGY INC COM 21241B100 478 9,218 SH   SOLE   9,218 0 0
BANK NEW YORK MELLON CORP COM 064058100 3,908 88,523 SH   SOLE   88,522 0 0
TEGNA INC COM 87901J105 1,704 112,465 SH   SOLE   112,465 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 306 5,352 SH   SOLE   5,352 0 0
PEPSICO INC COM 713448108 377 2,878 SH   SOLE   2,878 0 0
RAMACO RES INC COM 75134P303 57 10,677 SH   SOLE   10,677 0 0
C&J ENERGY SVCS INC NEW COM 12674R100 307 26,035 SH   SOLE   26,035 0 0
US BANCORP DEL COM NEW 902973304 496 9,463 SH   SOLE   9,463 0 0
BRIGHTHOUSE FINL INC COM 10922N103 362 9,876 SH   SOLE   9,876 0 0
DUPONT DE NEMOURS INC COM 26614N102 946 12,607 SH   SOLE   12,607 0 0
SOUTHERN CO COM 842587107 381 6,890 SH   SOLE   6,890 0 0
BROADRIDGE FINL SOLUTIONS IN COM 11133T103 2,432 19,050 SH   SOLE   19,050 0 0
SCHWAB STRATEGIC TR US BRD MKT ETF 808524102 603 8,548 SH   SOLE   8,548 0 0
CENTURYLINK INC COM 156700106 626 53,268 SH   SOLE   53,268 0 0
CENOVUS ENERGY INC COM 15135U109 303 34,375 SH   SOLE   34,375 0 0
CARS COM INC COM 14575E105 750 38,038 SH   SOLE   38,038 0 0
ENSCO ROWAN PLC SHS CLASS A G3166L100 155 18,205 SH   SOLE   18,205 0 0
NUTRIEN LTD COM 67077M108 237 4,434 SH   SOLE   4,434 0 0
PATTERSON UTI ENERGY INC COM 703481101 387 33,600 SH   SOLE   33,600 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 54,669 256,457 SH   SOLE   256,457 0 0
WEYERHAEUSER CO COM 962166104 608 23,095 SH   SOLE   23,095 0 0
SOLAR CAP LTD COM 83413U100 241 11,763 SH   SOLE   11,763 0 0
COMCAST CORP NEW CL A 20030N101 407 9,619 SH   SOLE   9,619 0 0
MICROSOFT CORP COM 594918104 7,524 56,163 SH   SOLE   56,163 0 0
CANADIAN NAT RES LTD COM 136385101 1,563 57,947 SH   SOLE   57,947 0 0
JEFFERIES FINL GROUP INC COM 47233W109 11,801 613,688 SH   SOLE   613,688 0 0
V F CORP COM 918204108 655 7,500 SH   SOLE   7,500 0 0
SOLITARIO ZINC CORP COM 8342EP107 5 14,300 SH   SOLE   14,300 0 0
ST JOE CO COM 790148100 631 36,501 SH   SOLE   36,501 0 0
MONMOUTH REAL ESTATE INVT CO CL A 609720107 746 55,040 SH   SOLE   55,040 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 2,547 8 SH   SOLE   8 0 0
ROYCE MICRO-CAP TR INC COM 780915104 1,173 142,754 SH   SOLE   142,753 0 0
ARGO GROUP INTL HLDGS LTD COM G0464B107 348 4,700 SH   SOLE   4,700 0 0
ISTAR INC COM 45031U101 1,248 100,520 SH   SOLE   100,520 0 0
TEJON RANCH CO COM 879080109 180 10,862 SH   SOLE   10,862 0 0
VANGUARD INTL EQUITY INDEX F FTSE EUROPE ETF 922042874 338 6,165 SH   SOLE   6,165 0 0
BROOKFIELD ASSET MGMT INC CL A LTD VT SH 112585104 1,000 20,931 SH   SOLE   20,931 0 0
METHANEX CORP COM 59151K108 400 8,800 SH   SOLE   8,800 0 0
ANTERO MIDSTREAM CORP COM 03676B102 118 10,325 SH   SOLE   10,325 0 0
DOW INC COM 260557103 622 12,607 SH   SOLE   12,607 0 0
GENERAL AMERN INVS INC COM 368802104 3,730 105,102 SH   SOLE   105,102 0 0
GOLUB CAP BDC INC COM 38173M102 514 28,864 SH   SOLE   28,864 0 0
INVESCO EXCHANGE TRADED FD T S&P500 EQL WGT 46137V357 219 2,032 SH   SOLE   2,032 0 0
GRINDROD SHIPPING HOLDINGS L SHS Y28895103 76 15,800 SH   SOLE   15,800 0 0
AIR PRODS & CHEMS INC COM 009158106 838 3,703 SH   SOLE   3,703 0 0
MEDLEY CAP CORP COM 58503F106 50 21,408 SH   SOLE   21,408 0 0
PICO HLDGS INC COM NEW 693366205 1,393 119,867 SH   SOLE   119,866 0 0
UNITED SECURITY BANCSHARES C COM 911460103 240 21,049 SH   SOLE   21,049 0 0
OAK VALLEY BANCORP OAKDALE C COM 671807105 282 14,441 SH   SOLE   14,441 0 0
AERCAP HOLDINGS NV SHS N00985106 399 7,662 SH   SOLE   7,662 0 0
SOURCE CAP INC COM 836144105 2,025 55,361 SH   SOLE   55,360 0 0
RPC INC COM 749660106 3,055 423,772 SH   SOLE   423,772 0 0
FREEPORT-MCMORAN INC CL B 35671D857 340 29,258 SH   SOLE   29,258 0 0
SYSCO CORP COM 871829107 735 10,400 SH   SOLE   10,400 0 0
ENTERGY CORP NEW COM 29364G103 630 6,122 SH   SOLE   6,122 0 0
CATHAY GEN BANCORP COM 149150104 377 10,500 SH   SOLE   10,500 0 0
EURONAV NV ANTWERPEN SHS B38564108 269 28,491 SH   SOLE   28,491 0 0
OAKTREE CAP GROUP LLC UNIT CL A 674001201 704 14,206 SH   SOLE   14,206 0 0
ABERDEEN EMRG MRKTS EQT INM COM 00301W105 599 81,966 SH   SOLE   81,966 0 0
ROYCE VALUE TR INC COM 780910105 1,333 95,774 SH   SOLE   95,773 0 0
CONSOLIDATED TOMOKA LD CO COM 210226106 1,712 28,676 SH   SOLE   28,676 0 0
CELGENE CORP COM 151020104 287 3,100 SH   SOLE   3,100 0 0
GEOSPACE TECHNOLOGIES CORP COM 37364X109 553 36,570 SH   SOLE   36,570 0 0
METLIFE INC COM 59156R108 321 6,462 SH   SOLE   6,462 0 0
TECHNIPFMC PLC COM G87110105 254 9,800 SH   SOLE   9,800 0 0
NOVARTIS A G SPONSORED ADR 66987V109 667 7,306 SH   SOLE   7,306 0 0
TOTAL S A SPONSORED ADS 89151E109 463 8,301 SH   SOLE   8,301 0 0
MCDERMOTT INTL INC COM 580037703 492 50,962 SH   SOLE   50,962 0 0
CIMAREX ENERGY CO COM 171798101 2,318 39,076 SH   SOLE   39,075 0 0
WHITE MTNS INS GROUP LTD COM G9618E107 28,231 27,638 SH   SOLE   27,638 0 0
MOHAWK INDS INC COM 608190104 2,474 16,775 SH   SOLE   16,775 0 0
ENBRIDGE INC COM 29250N105 319 8,853 SH   SOLE   8,853 0 0
GENCO SHIPPING & TRADING LTD SHS Y2685T131 213 25,284 SH   SOLE   25,284 0 0
TEEKAY CORPORATION COM Y8564W103 45 13,000 SH   SOLE   13,000 0 0
ZOETIS INC CL A 98978V103 284 2,500 SH   SOLE   2,500 0 0
HALLADOR ENERGY COMPANY COM 40609P105 94 16,661 SH   SOLE   16,661 0 0
OFG BANCORP COM 67103X102 488 20,550 SH   SOLE   20,550 0 0
AMBAC FINL GROUP INC COM NEW 023139884 372 22,100 SH   SOLE   22,100 0 0
BLACKSTONE MTG TR INC COM CL A 09257W100 529 14,875 SH   SOLE   14,875 0 0
GENERAL DYNAMICS CORP COM 369550108 655 3,600 SH   SOLE   3,600 0 0
CISCO SYS INC COM 17275R102 818 14,948 SH   SOLE   14,948 0 0
LIBERTY GLOBAL PLC SHS CL C G5480U120 558 21,037 SH   SOLE   21,037 0 0
APACHE CORP COM 037411105 344 11,889 SH   SOLE   11,889 0 0
LENNAR CORP CL B 526057302 1,363 35,395 SH   SOLE   35,395 0 0
AT&T INC COM 00206R102 727 21,681 SH   SOLE   21,681 0 0
ROYCE GLOBAL VALUE TR INC COM 78081T104 123 11,654 SH   SOLE   11,654 0 0
CONTANGO OIL & GAS COMPANY COM NEW 21075N204 61 34,928 SH   SOLE   34,928 0 0
NOBLE CORP PLC SHS USD G65431101 88 47,075 SH   SOLE   47,075 0 0
SCORPIO BULKERS INC COM Y7546A122 215 46,800 SH   SOLE   46,800 0 0
DIAMOND OFFSHORE DRILLING IN COM 25271C102 791 89,231 SH   SOLE   89,231 0 0
WELLS FARGO CO NEW COM 949746101 759 16,043 SH   SOLE   16,043 0 0
UNION PACIFIC CORP COM 907818108 205 1,211 SH   SOLE   1,210 0 0
GOLAR LNG LTD BERMUDA SHS G9456A100 601 32,495 SH   SOLE   32,494 0 0
LOCKHEED MARTIN CORP COM 539830109 201 552 SH   SOLE   552 0 0
DORCHESTER MINERALS LP COM UNIT 25820R105 1,243 67,901 SH   SOLE   67,901 0 0
JPMORGAN CHASE & CO COM 46625H100 217 1,937 SH   SOLE   1,937 0 0
WESTAMERICA BANCORPORATION COM 957090103 3,773 61,233 SH   SOLE   61,233 0 0
INTL PAPER CO COM 460146103 550 12,700 SH   SOLE   12,700 0 0
HARTFORD FINL SVCS GROUP INC COM 416515104 414 7,427 SH   SOLE   7,427 0 0
CHEVRON CORP NEW COM 166764100 1,483 11,916 SH   SOLE   11,916 0 0
CONOCOPHILLIPS COM 20825C104 1,527 25,029 SH   SOLE   25,029 0 0
MARKEL CORP COM 570535104 20,079 18,428 SH   SOLE   18,428 0 0
BANK AMER CORP COM 060505104 352 12,129 SH   SOLE   12,128 0 0
INTERNATIONAL BUSINESS MACHS COM 459200101 894 6,481 SH   SOLE   6,481 0 0
PFIZER INC COM 717081103 413 9,545 SH   SOLE   9,545 0 0
AMERICAN EXPRESS CO COM 025816109 999 8,094 SH   SOLE   8,093 0 0
AMGEN INC COM 031162100 1,011 5,488 SH   SOLE   5,487 0 0
APPLIED MATLS INC COM 038222105 549 12,234 SH   SOLE   12,234 0 0
ALLY FINL INC COM 02005N100 243 7,849 SH   SOLE   7,849 0 0
TCW STRATEGIC INCOME FUND IN COM 872340104 227 39,433 SH   SOLE   39,433 0 0
SAN JUAN BASIN RTY TR UNIT BEN INT 798241105 587 152,752 SH   SOLE   152,752 0 0
NOW INC COM 67011P100 2,747 186,117 SH   SOLE   186,117 0 0
VANGUARD GROUP DIV APP ETF 921908844 1,978 17,179 SH   SOLE   17,179 0 0
ENSTAR GROUP LIMITED SHS G3075P101 14,294 82,018 SH   SOLE   82,018 0 0
ANTERO RES CORP COM 03674X106 252 45,525 SH   SOLE   45,525 0 0
LIBERTY MEDIA CORP DELAWARE COM SER C FRMLA 531229854 576 15,384 SH   SOLE   15,384 0 0
ORION ENGINEERED CARBONS S A COM L72967109 344 16,080 SH   SOLE   16,080 0 0
DAILY JOURNAL CORP COM 233912104 212 889 SH   SOLE   889 0 0
LIBERTY BROADBAND CORP COM SER A 530307107 230 2,239 SH   SOLE   2,239 0 0
LIBERTY BROADBAND CORP COM SER C 530307305 694 6,658 SH   SOLE   6,658 0 0
CALIFORNIA RES CORP COM NEW 13057Q206 1,769 89,866 SH   SOLE   89,866 0 0
CNA FINL CORP COM 126117100 1,502 31,916 SH   SOLE   31,916 0 0
HELMERICH & PAYNE INC COM 423452101 1,892 37,380 SH   SOLE   37,380 0 0
PNC FINL SVCS GROUP INC COM 693475105 762 5,550 SH   SOLE   5,550 0 0
GRAHAM HLDGS CO COM 384637104 431 625 SH   SOLE   625 0 0
BERKLEY W R CORP COM 084423102 19,925 302,218 SH   SOLE   302,217 0 0
LOEWS CORP COM 540424108 17,972 328,727 SH   SOLE   328,727 0 0
SPROTT FOCUS TR INC COM 85208J109 113 16,837 SH   SOLE   16,837 0 0
EXXON MOBIL CORP COM 30231G102 644 8,404 SH   SOLE   8,404 0 0
VODAFONE GROUP PLC NEW SPONSORED ADR 92857W308 270 16,558 SH   SOLE   16,558 0 0
CABLE ONE INC COM 12685J105 732 625 SH   SOLE   625 0 0
PAYPAL HLDGS INC COM 70450Y103 764 6,673 SH   SOLE   6,673 0 0
THE CHARLES SCHWAB CORPORATI COM 808513105 1,902 47,335 SH   SOLE   47,334 0 0
APPLE INC COM 037833100 1,900 9,600 SH   SOLE   9,599 0 0
ABBOTT LABS COM 002824100 2,407 28,621 SH   SOLE   28,621 0 0
VANGUARD INTL EQUITY INDEX F TT WRLD ST ETF 922042742 293 3,900 SH   SOLE   3,900 0 0
ALLEGHANY CORP DEL COM 017175100 25,351 37,220 SH   SOLE   37,220 0 0
FAIRFAX FINL HLDGS LTD SUB VTG STOCK 303901102 13,899 28,305 SH   SOLE   28,305 0 0