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
ALAMOS GOLD INC NEW COM CL A CS 011532108 313 59,990 SH   SOLE   59,990 0 0
AMDOCS LTD SHS CS G02602103 21,526 322,637 SH   SOLE   322,637 0 0
AMERISOURCEBERGEN CORP COM CS 03073E105 12,672 146,990 SH   SOLE   146,990 0 0
APPLE INC COM CS 037833100 3,178 18,943 SH   SOLE   18,943 0 0
BALDWIN & LYONS INC CL B CS 057755209 23,082 1,049,193 SH   SOLE   1,049,193 0 0
BANK NEW YORK MELLON CORP COM CS 064058100 8,979 174,241 SH   SOLE   174,241 0 0
BERKSHIRE HATHAWAY CLASS B CS 084670702 22,540 112,992 SH   SOLE   112,992 0 0
BIGLARI HLDGS INC-B CS 08986R309 13,143 32,180 SH   SOLE   32,180 0 0
BIO RAD LABS INC CL A CS 090572207 916 3,664 SH   SOLE   3,664 0 0
CHEESECAKE FACTORY INC COM CS 163072101 14,960 310,245 SH   SOLE   310,245 0 0
CISCO SYS INC COM CS 17275R102 5,312 123,860 SH   SOLE   123,860 0 0
CONSOLIDATED TOMOKA LD CO COM CS 210226106 4,994 79,453 SH   SOLE   79,453 0 0
CUBIC CORP COM CS 229669106 502 7,893 SH   SOLE   7,893 0 0
DISCOVERY INC COM SER C CS 25470F302 11,784 603,666 SH   SOLE   603,666 0 0
DOLLAR GEN CORP NEW COM CS 256677105 1,303 13,930 SH   SOLE   13,930 0 0
FRP HLDGS INC COM CS 30292L107 9,416 168,148 SH   SOLE   168,148 0 0
GREENHILL & CO INC COM CS 395259104 9,302 502,830 SH   SOLE   502,830 0 0
HALLMARK FINL SVCS INC EC C CS 40624Q203 4,361 488,873 SH   SOLE   488,873 0 0
ISHARES GOLD TRUST ISHARES CS 464285105 4,494 352,995 SH   SOLE   352,995 0 0
ISHARES SILVER TRUST ISHARES CS 46428Q109 859 55,765 SH   SOLE   55,765 0 0
LABORATORY CORP AMER HLDGS COM CS 50540R409 2,211 13,671 SH   SOLE   13,671 0 0
LEUCADIA NATL CORP COM CS 527288104 14,984 659,225 SH   SOLE   659,225 0 0
NET 1 UEPS TECHNOLOGIES INC CO CS 64107N206 20,636 2,181,396 SH   SOLE   2,181,396 0 0
NORTHERN TR CORP COM CS 665859104 1,182 11,465 SH   SOLE   11,465 0 0
OAKTREE CAP GROUP LLC UNIT CL CS 674001201 13,532 341,706 SH   SOLE   341,706 0 0
PATTERSON UTI ENERGY INC COM CS 703481101 12,003 685,485 SH   SOLE   685,485 0 0
SYNTEL INC COM CS 87162H103 13,767 539,237 SH   SOLE   539,237 0 0
TAPESTRY INC COM CS 876030107 449 8,530 SH   SOLE   8,530 0 0
TELEPHONE & DATA SYS INC COM N CS 879433829 1,617 57,674 SH   SOLE   57,674 0 0
TERADATA CORP DEL COM CS 88076W103 12,195 307,404 SH   SOLE   307,404 0 0
TETRA TECH INC NEW COM CS 88162G103 1,643 33,575 SH   SOLE   33,575 0 0
WESTERN DIGITAL CORP COM CS 958102105 12,385 134,223 SH   SOLE   134,223 0 0
WESTERN UN CO COM CS 959802109 13,709 712,877 SH   SOLE   712,877 0 0
EZCORP INC CV 302301ab2 555 528,000 PRN   SOLE   528,000 0 0