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

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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
ALLIANCE HOLDINGS GP LP COM UNITS LP 01861G100 8,247 408,652 SH   SOLE   408,652 0 0
ALLIANCE RES PARTNER LP UT LTD PART 01877R108 22,519 1,669,327 SH   SOLE   1,669,327 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 13,336 101,000 SH   SOLE   101,000 0 0
C & F FINL CORP COM 12466Q104 7,660 196,420 SH   SOLE   196,420 0 0
HALLADOR ENERGY COMPANY COM 40609P105 5,458 1,196,955 SH   SOLE   1,196,955 0 0
HALLMARK FINL SVCS INC EC COM NEW 40624Q203 2,295 196,348 SH   SOLE   196,348 0 0
JPMORGAN Chase & CO *W EXP 10/28/201 46634E114 9,704 358,594 SH   SOLE   358,594 0 0
NORTHEAST BANCORP COM NEW 663904209 8,911 848,683 SH   SOLE   848,663 0 0
PNC FINL SVCS GROUP INC *W EXP 12/31/201 693475121 8,038 279,960 SH   SOLE   279,960 0 0
RUSH ENTERPRISES INC CL A 781846308 10,975 501,128 SH   SOLE   501,128 0 0
RUSH ENTERPRISES INC CL B 781846209 4,268 194,970 SH   SOLE   194,970 0 0
WELLS FARGO & CO NEW *W EXP 10/28/201 949746119 9,246 451,235 SH   SOLE   451,235 0 0