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
3M CO COM 88579Y101 1,765 14,780 SH   SOLE   14,780 0 0
AVX CORP NEW COM 002444107 2,872 218,772 SH   SOLE   218,772 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 14,655 86 SH   SOLE   86 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 26,327 231,935 SH   SOLE   231,935 0 0
CHUBB CORP COM 171232101 893 10,000 SH   SOLE   10,000 0 0
CNA FINL CORP COM 126117100 1,457 38,155 SH   SOLE   38,155 0 0
COCA COLA CO COM 191216100 1,894 50,000 SH   SOLE   50,000 0 0
COSTCO WHSL CORP NEW COM 22160K105 2,361 20,502 SH   SOLE   20,502 0 0
EXXON MOBIL CORP COM 30231G102 24,341 282,900 SH   SOLE   282,900 0 0
GENERAL ELECTRIC CO COM 369604103 3,591 150,319 SH   SOLE   150,319 0 0
GOLDCORP INC NEW COM 380956409 3,630 139,550 SH   SOLE   139,550 0 0
INTEL CORP COM 458140100 6,597 287,830 SH   SOLE   287,830 0 0
JOHNSON & JOHNSON COM 478160104 5,028 58,005 SH   SOLE   58,005 0 0
KINROSS GOLD CORP COM NO PAR 496902404 5,648 1,118,378 SH   SOLE   1,118,378 0 0
LEUCADIA NATL CORP COM 527288104 7,835 287,625 SH   SOLE   287,625 0 0
MEDTRONIC INC COM 585055106 266 5,000 SH   SOLE   5,000 0 0
MERCK & CO INC NEW COM 58933Y105 6,558 137,754 SH   SOLE   137,754 0 0
MERCURY GENL CORP NEW COM 589400100 14,983 310,135 SH   SOLE   310,135 0 0
MICROSOFT CORP COM 594918104 4,876 146,505 SH   SOLE   146,505 0 0
MOLSON COORS BREWING CO CL A 60871R100 251 5,000 SH   SOLE   5,000 0 0
NEWMONT MINING CORP COM 651639106 8,495 302,303 SH   SOLE   302,303 0 0
PEPSICO INC COM 713448108 3,954 49,730 SH   SOLE   49,730 0 0
RITCHIE BROS AUCTIONEERS COM 767744105 1,931 95,700 SH   SOLE   95,700 0 0
ROYAL DUTCH SHELL PLC SPONS ADR A 780259206 845 12,868 SH   SOLE   12,868 0 0
SANOFI SPONSORED ADR 80105N105 4,487 88,615 SH   SOLE   88,615 0 0
STATOIL ASA SPONSORED ADR 85771P102 3,819 168,405 SH   SOLE   168,405 0 0
TRAVELERS COMPANIES INC COM 89417E109 1,695 20,000 SH   SOLE   20,000 0 0
VALIDUS HOLDINGS LTD COM SHS G9319H102 2,127 57,531 SH   SOLE   57,531 0 0
VICAL INC COM 925602104 511 408,421 SH   SOLE   408,421 0 0
WASHINGTON FED INC COM 938824109 4,917 237,790 SH   SOLE   237,790 0 0