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
AMDOCS LTD SHS CS G02602103 30,249 648,361 SH   SOLE   648,361 0 0
AMERICAN EAGLE OUTFITTERS NEW CS 02553E106 9,193 662,290 SH   SOLE   662,290 0 0
APPLE INC COM CS 037833100 1,762 15,964 SH   SOLE   15,964 0 0
ASPEN INSURANCE HOLDINGS LTD S CS G05384105 706 16,140 SH   SOLE   16,140 0 0
AURICO GOLD INC COM CS 05155C105 3,970 1,210,295 SH   SOLE   1,210,295 0 0
BALDWIN & LYONS INC CL B CS 057755209 1,360 52,748 SH   SOLE   52,748 0 0
BANK NEW YORK MELLON CORP COM CS 064058100 14,240 350,990 SH   SOLE   350,990 0 0
BARRETT BILL CORP COM CS 06846N104 5,219 458,237 SH   SOLE   458,237 0 0
BERKSHIRE HATHAWAY INC DEL CL CS 084670702 19,646 130,840 SH   SOLE   130,840 0 0
BIO RAD LABS INC CL A CS 090572207 31,990 265,349 SH   SOLE   265,349 0 0
CISCO SYS INC COM CS 17275R102 10,839 389,690 SH   SOLE   389,690 0 0
COACH INC COM CS 189754104 1,694 45,090 SH   SOLE   45,090 0 0
CONTANGO OIL & GAS COMPANY COM CS 21075N204 5,372 183,738 SH   SOLE   183,738 0 0
CSG SYS INTL INC COM CS 126349109 6,277 250,393 SH   SOLE   250,393 0 0
DOLLAR GEN CORP NEW COM CS 256677105 707 10,000 SH   SOLE   10,000 0 0
EXPRESS SCRIPTS HLDG CO COM CS 30219G108 15,349 181,280 SH   SOLE   181,280 0 0
FRP HLDGS INC COM CS 30292L107 961 24,506 SH   SOLE   24,506 0 0
HAWKINS INC COM CS 420261109 8,021 185,110 SH   SOLE   185,110 0 0
INGRAM MICRO INC CL A CS 457153104 16,548 598,703 SH   SOLE   598,703 0 0
INTUITIVE SURGICAL INC COM NEW CS 46120E602 13,764 26,022 SH   SOLE   26,022 0 0
LABORATORY CORP AMER HLDGS COM CS 50540R409 1,033 9,570 SH   SOLE   9,570 0 0
LEUCADIA NATL CORP COM CS 527288104 12,145 541,685 SH   SOLE   541,685 0 0
MATTEL INC COM CS 577081102 1,208 39,035 SH   SOLE   39,035 0 0
MICROSOFT CORP COM CS 594918104 8,780 189,030 SH   SOLE   189,030 0 0
NEWFIELD EXPL CO COM CS 651290108 14,160 522,135 SH   SOLE   522,135 0 0
NEWMONT MINING CORP COM CS 651639106 711 37,600 SH   SOLE   37,600 0 0
NORTHERN OIL & GAS INC NEV COM CS 665531109 10,617 1,879,057 SH   SOLE   1,879,057 0 0
NORTHERN TR CORP COM CS 665859104 1,299 19,270 SH   SOLE   19,270 0 0
OAKTREE CAP GROUP LLC UNIT CL CS 674001201 13,731 264,928 SH   SOLE   264,928 0 0
PAN AMERICAN SILVER CORP COM CS 697900108 3,437 373,635 SH   SOLE   373,635 0 0
PEP BOYS MANNY MOE & JACK COM CS 713278109 324 33,000 SH   SOLE   33,000 0 0
QUEST DIAGNOSTICS INC COM CS 74834L100 1,027 15,320 SH   SOLE   15,320 0 0
SANDSTORM GOLD LTD COM NEW CS 80013R206 8,219 2,417,243 SH   SOLE   2,417,243 0 0
SM ENERGY CO COM CS 78454L100 9,934 257,480 SH   SOLE   257,480 0 0
STAPLES INC COM CS 855030102 12,394 683,980 SH   SOLE   683,980 0 0
TELEPHONE & DATA SYS INC COM N CS 879433829 8,405 332,888 SH   SOLE   332,888 0 0
TERADATA CORP DEL COM CS 88076W103 2,344 53,670 SH   SOLE   53,670 0 0
TETRA TECH INC NEW COM CS 88162G103 32,883 1,231,585 SH   SOLE   1,231,585 0 0
THORATEC CORP COM NEW CS 885175307 682 21,000 SH   SOLE   21,000 0 0
UNIT CORP COM CS 909218109 6,106 179,060 SH   SOLE   179,060 0 0
VERIZON COMMUNICATIONS INC COM CS 92343V104 994 21,250 SH   SOLE   21,250 0 0
WESTERN UN CO COM CS 959802109 21,204 1,183,900 SH   SOLE   1,183,900 0 0
WORLD WRESTLING ENTMT INC CL A CS 98156Q108 1,874 151,880 SH   SOLE   151,880 0 0