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
AEGON N V NY REGISTRY SH 007924103 40,572 6,440,012 SH   SOLE 0 6,440,012 0 0
ALLERGAN PLC 5.5% CNV PFD A G0177J116 993 1,694 SH   SOLE 0 1,694 0 0
ALLERGAN PLC SHS G0177J108 35,131 214,761 SH   SOLE 0 214,761 0 0
AMERICA MOVIL SAB DE CV SPON ADR L SHS 02364W105 26,534 1,547,196 SH   SOLE 0 1,547,196 0 0
AMERICAN EXPRESS CO COM 025816109 29,710 299,167 SH   SOLE 0 299,167 0 0
ANDERSONS INC COM 034164103 2,707 86,913 SH   SOLE 0 86,913 0 0
APPLE INC COM 037833100 248 1,467 SH   SOLE 0 1,467 0 0
ARDMORE SHIPPING CORP COM Y0207T100 3,163 395,364 SH   SOLE 0 395,364 0 0
ASPEN INSURANCE HOLDINGS LTD SHS G05384105 15,370 378,566 SH   SOLE 0 378,566 0 0
AUTONATION INC COM 05329W102 33,905 660,534 SH   SOLE 0 660,534 0 0
AUTOZONE INC COM 053332102 39,391 55,373 SH   SOLE 0 55,373 0 0
BANK NEW YORK MELLON CORP COM 064058100 22,273 413,527 SH   SOLE 0 413,527 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 9,226 31 SH   SOLE 0 31 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 58,645 295,858 SH   SOLE 0 295,858 0 0
BLACKROCK FLOAT RATE OME STR COM 09255X100 2,377 172,361 SH   SOLE 0 172,361 0 0
BLACKROCK LTD DURATION INC T COM SHS 09249W101 2,311 145,467 SH   SOLE 0 145,467 0 0
BRIGHTHOUSE FINL INC COM 10922N103 3,904 66,584 SH   SOLE 0 66,584 0 0
BROOKFIELD ASSET MGMT INC CL A LTD VT SH 112585104 26,100 599,456 SH   SOLE 0 599,456 0 0
CALPINE CORP COM NEW 131347304 18,704 1,236,192 SH   SOLE 0 1,236,192 0 0
CENTRAL VALLEY CMNTY BANCORP COM 155685100 12,355 612,217 SH   SOLE 0 612,217 0 0
CHEMOURS CO COM 163851108 27,645 552,246 SH   SOLE 0 552,246 0 0
CHEVRON CORP NEW COM 166764100 257 2,053 SH   SOLE 0 2,053 0 0
CNA FINL CORP COM 126117100 53,060 1,000,190 SH   SOLE 0 1,000,190 0 0
CNO FINL GROUP INC COM 12621E103 8,523 345,220 SH   SOLE 0 345,220 0 0
COLFAX CORP COM 194014106 318 8,036 SH   SOLE 0 8,036 0 0
COLONY NORTHSTAR INC CL A COM 19625W104 95,136 8,337,954 SH   SOLE 0 8,337,954 0 0
COMCAST CORP NEW CL A 20030N101 816 20,370 SH   SOLE 0 20,370 0 0
CONSOLIDATED COMM HLDGS INC COM 209034107 26,037 2,135,922 SH   SOLE 0 2,135,922 0 0
CROWN HOLDINGS INC COM 228368106 804 14,288 SH   SOLE 0 14,288 0 0
DARLING INGREDIENTS INC COM 237266101 17,183 947,749 SH   SOLE 0 947,749 0 0
DIAMOND OFFSHORE DRILLING IN COM 25271C102 6,061 326,059 SH   SOLE 0 326,059 0 0
DISCOVERY COMMUNICATNS NEW COM SER C 25470F302 49,552 2,340,687 SH   SOLE 0 2,340,687 0 0
DORIAN LPG LTD SHS USD Y2106R110 3,589 436,607 SH   SOLE 0 436,607 0 0
FRANKLIN STREET PPTYS CORP COM 35471R106 16,265 1,514,387 SH   SOLE 0 1,514,387 0 0
GABELLI GLB SML & MD CP VAL COM 36249W104 925 72,644 SH   SOLE 0 72,644 0 0
GENERAL ELECTRIC CO COM 369604103 287 16,442 SH   SOLE 0 16,442 0 0
GRAMERCY PPTY TR COM NEW 385002308 29,744 1,115,675 SH   SOLE 0 1,115,675 0 0
GREAT LAKES DREDGE & DOCK CO COM 390607109 8,608 1,594,044 SH   SOLE 0 1,594,044 0 0
GREEN PLAINS INC COM 393222104 19,205 1,139,763 SH   SOLE 0 1,139,763 0 0
HARTFORD FINL SVCS GROUP INC COM 416515104 9,743 173,124 SH   SOLE 0 173,124 0 0
HAWAIIAN TELCOM HOLDCO INC COM 420031106 13,859 449,087 SH   SOLE 0 449,087 0 0
ISHARES TR NASDAQ BIOTECH 464287556 9,075 84,992 SH   SOLE 0 84,992 0 0
ISHARES TR RUS MID CAP ETF 464287499 1,163 5,590 SH   SOLE 0 5,590 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 630 4,135 SH   SOLE 0 4,135 0 0
ISTAR INC COM 45031U101 11,211 992,160 SH   SOLE 0 992,160 0 0
JBG SMITH PPTYS COM 46590V100 21,025 605,370 SH   SOLE 0 605,370 0 0
JEFFERIES GROUP INC NEW DBCV 3.875%11/0 472319AG7 2,870 2,868,000 SH   SOLE 0 2,868,000 0 0
JOHNSON & JOHNSON COM 478160104 509 3,640 SH   SOLE 0 3,640 0 0
JPMORGAN CHASE & CO COM 46625H100 51,798 484,361 SH   SOLE 0 484,361 0 0
KAPSTONE PAPER & PACKAGING C COM 48562P103 12,216 538,403 SH   SOLE 0 538,403 0 0
KCAP FINL INC COM 48668E101 5,583 1,637,110 SH   SOLE 0 1,637,110 0 0
KIMCO RLTY CORP COM 49446R109 33,937 1,869,804 SH   SOLE 0 1,869,804 0 0
KROGER CO COM 501044101 35,614 1,297,395 SH   SOLE 0 1,297,395 0 0
LEUCADIA NATL CORP COM 527288104 44,517 1,680,523 SH   SOLE 0 1,680,523 0 0
LIBERTY BROADBAND CORP COM SER C 530307305 384 4,511 SH   SOLE 0 4,511 0 0
LIBERTY GLOBAL PLC LILAC SHS CL C G5480U153 11,069 556,534 SH   SOLE 0 556,534 0 0
LIBERTY GLOBAL PLC SHS CL A G5480U104 45 1,248 SH   SOLE 0 1,248 0 0
LIBERTY GLOBAL PLC SHS CL C G5480U120 14,161 418,471 SH   SOLE 0 418,471 0 0
LIBERTY MEDIA CORP DELAWARE COM C SIRIUSXM 531229607 698 17,590 SH   SOLE 0 17,590 0 0
LIBERTY MEDIA CORP DELAWARE COM SER C FRMLA 531229854 232 6,794 SH   SOLE 0 6,794 0 0
LOEWS CORP COM 540424108 26,664 532,956 SH   SOLE 0 532,956 0 0
MERCK & CO INC COM 58933Y105 2,432 43,226 SH   SOLE 0 43,226 0 0
METLIFE INC COM 59156R108 38,180 755,147 SH   SOLE 0 755,147 0 0
MICROSOFT CORP COM 594918104 528 6,168 SH   SOLE 0 6,168 0 0
NAVISTAR INTL CORP NEW NOTE 4.500%10/1 63934EAQ1 8,887 8,663,000 SH   SOLE 0 8,663,000 0 0
NII HLDGS INC COM PAR 62913F508 553 1,303,192 SH   SOLE 0 1,303,192 0 0
NN INC COM 629337106 19,866 719,787 SH   SOLE 0 719,787 0 0
NORTHSTAR REALTY EUROPE CORP COM 66706L101 20,269 1,509,204 SH   SOLE 0 1,509,204 0 0
NUVEEN CR STRATEGIES INCM FD COM SHS 67073D102 17,804 2,165,889 SH   SOLE 0 2,165,889 0 0
NUVEEN GLOBAL HIGH INCOME FD SHS 67075G103 14,263 843,493 SH   SOLE 0 843,493 0 0
OLD NATL BANCORP IND COM 680033107 22,540 1,291,711 SH   SOLE 0 1,291,711 0 0
OWENS ILL INC COM NEW 690768403 44,603 2,011,844 SH   SOLE 0 2,011,844 0 0
PARK OHIO HLDGS CORP COM 700666100 29,350 638,747 SH   SOLE 0 638,747 0 0
PBF ENERGY INC CL A 69318G106 31,867 898,925 SH   SOLE 0 898,925 0 0
PENSKE AUTOMOTIVE GRP INC COM 70959W103 25,678 536,625 SH   SOLE 0 536,625 0 0
PEOPLES BANCORP INC COM 709789101 13,200 404,670 SH   SOLE 0 404,670 0 0
PIEDMONT OFFICE REALTY TR IN COM CL A 720190206 10,686 544,909 SH   SOLE 0 544,909 0 0
PLATFORM SPECIALTY PRODS COR COM 72766Q105 20,246 2,040,920 SH   SOLE 0 2,040,920 0 0
PROSPECT CAPITAL CORPORATION NOTE 4.750% 4/1 74348TAQ5 28 28,000 SH   SOLE 0 28,000 0 0
PROSPERITY BANCSHARES INC COM 743606105 11,460 163,553 SH   SOLE 0 163,553 0 0
REDWOOD TR INC COM 758075402 17,220 1,161,962 SH   SOLE 0 1,161,962 0 0
REDWOOD TR INC NOTE 4.625% 4/1 758075AB1 3,367 3,367,000 SH   SOLE 0 3,367,000 0 0
RENEWABLE ENERGY GROUP INC COM NEW 75972A301 6,753 572,247 SH   SOLE 0 572,247 0 0
RENEWABLE ENERGY GROUP INC MTNF 2.750% 6/1 75972AAA1 25,264 24,053,000 SH   SOLE 0 24,053,000 0 0
RESOLUTE FST PRODS INC COM 76117W109 2,225 201,323 SH   SOLE 0 201,323 0 0
ROYCE GLOBAL VALUE TR INC COM 78081T104 1,848 170,888 SH   SOLE 0 170,888 0 0
RUSH ENTERPRISES INC CL A 781846209 7,633 150,229 SH   SOLE 0 150,229 0 0
RUSH ENTERPRISES INC CL B 781846308 18,086 375,145 SH   SOLE 0 375,145 0 0
SCRIPPS NETWORKS INTERACT IN CL A COM 811065101 21,690 254,037 SH   SOLE 0 254,037 0 0
SEABOARD CORP COM 811543107 24,974 5,663 SH   SOLE 0 5,663 0 0
SEACOR HOLDINGS INC COM 811904101 3,611 78,116 SH   SOLE 0 78,116 0 0
SEACOR MARINE HLDGS INC COM 78413P101 12,597 1,076,624 SH   SOLE 0 1,076,624 0 0
SIERRA BANCORP COM 82620P102 11,207 421,938 SH   SOLE 0 421,938 0 0
SUPERVALU INC COM NEW 868536301 11,897 550,773 SH   SOLE 0 550,773 0 0
TEGNA INC COM 87901J105 2,736 194,290 SH   SOLE 0 194,290 0 0
TELEPHONE & DATA SYS INC COM NEW 879433829 15,562 559,769 SH   SOLE 0 559,769 0 0
TEMPLETON GLOBAL INCOME FD COM 880198106 11,424 1,768,350 SH   SOLE 0 1,768,350 0 0
TENET HEALTHCARE CORP COM NEW 88033G407 13,601 897,146 SH   SOLE 0 897,146 0 0
TENNECO INC COM 880349105 12,935 220,962 SH   SOLE 0 220,962 0 0
TEVA PHARMACEUTICAL INDS LTD SPONSORED ADR 881624209 17,039 899,181 SH   SOLE 0 899,181 0 0
TIER REIT INC COM NEW 88650V208 22,596 1,108,192 SH   SOLE 0 1,108,192 0 0
TRAVELERS COMPANIES INC COM 89417E109 23,744 175,053 SH   SOLE 0 175,053 0 0
U S GEOTHERMAL INC COM NEW 90338S201 6,272 1,818,042 SH   SOLE 0 1,818,042 0 0
VALEANT PHARMACEUTICALS INTL COM 91911K102 26,094 1,255,723 SH   SOLE 0 1,255,723 0 0
VALERO ENERGY CORP NEW COM 91913Y100 48,754 530,452 SH   SOLE 0 530,452 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 39,849 752,858 SH   SOLE 0 752,858 0 0
VODAFONE GROUP PLC NEW SPONSORED ADR 92857W308 15,139 474,584 SH   SOLE 0 474,584 0 0
VORNADO RLTY TR SH BEN INT 929042109 1,226 15,686 SH   SOLE 0 15,686 0 0
WASHINGTON PRIME GROUP NEW COM 93964W108 33,646 4,725,510 SH   SOLE 0 4,725,510 0 0
WELLS FARGO CO NEW COM 949746101 20,068 330,780 SH   SOLE 0 330,780 0 0
WESCO AIRCRAFT HLDGS INC COM 950814103 3,692 498,954 SH   SOLE 0 498,954 0 0
WESTERN ASSET HGH YLD DFNDFD COM 95768B107 12,971 857,878 SH   SOLE 0 857,878 0 0
WESTROCK CO COM 96145D105 25,418 402,116 SH   SOLE 0 402,116 0 0
XL GROUP LTD COM G98294104 34,880 992,045 SH   SOLE 0 992,045 0 0