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
AMPIO PHARMACEUTICALS INC COM 03209T109 35 10,000 SH   SOLE   10,000 0 0
AVX CORP NEW COM 002444107 2,916 219,547 SH   SOLE   219,547 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 17,793 86 SH   SOLE   86 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 28,807 208,535 SH   SOLE   208,535 0 0
CHICAGO BRIDGE & IRON CO N V COM 167250109 1,939 33,515 SH   SOLE   33,515 0 0
CHUBB CORP COM 171232101 911 10,000 SH   SOLE   10,000 0 0
CNA FINL CORP COM 126117100 1,451 38,155 SH   SOLE   38,155 0 0
COCA COLA CO COM 191216100 2,133 50,000 SH   SOLE   50,000 0 0
COSTCO WHSL CORP NEW COM 22160K105 2,569 20,502 SH   SOLE   20,502 0 0
EXXON MOBIL CORP COM 30231G102 24,127 256,532 SH   SOLE   256,532 0 0
GENERAL ELECTRIC CO COM 369604103 3,851 150,327 SH   SOLE   150,327 0 0
GOLDCORP INC NEW COM 380956409 4,910 213,180 SH   SOLE   213,180 0 0
INTEL CORP COM 458140100 4,371 125,538 SH   SOLE   125,538 0 0
JOHNSON & JOHNSON COM 478160104 4,046 37,955 SH   SOLE   37,955 0 0
KINROSS GOLD CORP COM NO PAR 496902404 2,791 845,828 SH   SOLE   845,828 0 0
LEUCADIA NATL CORP COM 527288104 7,521 315,475 SH   SOLE   315,475 0 0
MEDTRONIC INC COM 585055106 310 5,000 SH   SOLE   5,000 0 0
MERCK & CO INC NEW COM 58933Y105 5,498 92,754 SH   SOLE   92,754 0 0
MERCURY GENL CORP NEW COM 589400100 12,720 260,611 SH   SOLE   260,611 0 0
MICROSOFT CORP COM 594918104 3,985 85,948 SH   SOLE   85,948 0 0
NEWMONT MINING CORP COM 651639106 6,952 301,603 SH   SOLE   301,603 0 0
PEPSICO INC COM 713448108 2,763 29,680 SH   SOLE   29,680 0 0
RITCHIE BROS AUCTIONEERS COM 767744105 2,139 95,550 SH   SOLE   95,550 0 0
ROYAL DUTCH SHELL PLC SPONS ADR A 780259206 371 4,868 SH   SOLE   4,868 0 0
SANOFI SPONSORED ADR 80105N105 4,993 88,490 SH   SOLE   88,490 0 0
STATOIL ASA SPONSORED ADR 85771P102 3,524 129,755 SH   SOLE   129,755 0 0
TRAVELERS COMPANIES INC COM 89417E109 1,879 20,000 SH   SOLE   20,000 0 0
VALIDUS HOLDINGS LTD COM SHS G9319H102 2,252 57,531 SH   SOLE   57,531 0 0
VICAL INC COM 925602104 456 406,821 SH   SOLE   406,821 0 0
WASHINGTON FED INC COM 938824109 4,990 245,090 SH   SOLE   245,090 0 0