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
ABBOTT LABORATORIES COM 002824100 2,057 48,642 SH   SOLE   0 0 48,642
ABBVIE INC COM 00287y109 4,726 74,938 SH   SOLE   0 0 74,938
ACCURAY INC COM 004397105 140 22,000 SH   SOLE   0 0 22,000
ALLEGHANY CORP DEL COM 017175100 4,808 9,159 SH   SOLE   0 0 9,159
ALPHABET INC. CLASS A COM 02079k305 3,401 4,230 SH   SOLE   0 0 4,230
ALPHABET INC. CLASS C COM 02079k107 3,588 4,617 SH   SOLE   0 0 4,617
AMERICAN INTL GROUP COM 026874784 4,555 76,763 SH   SOLE   0 0 76,763
APPLE INC COM 037833100 2,917 25,807 SH   SOLE   0 0 25,807
BANK OF AMERICA CORP COM 060505104 5,192 331,815 SH   SOLE   0 0 331,815
BERKSHIRE HATHAWAY CLASS B COM 084670702 15,448 106,933 SH   SOLE   0 0 106,933
CISCO SYSTEMS INC COM 17275r102 5,443 171,611 SH   SOLE   0 0 171,611
COHEN STEERS REIT PREFER COM 19247x100 215 10,678 SH   SOLE   0 0 10,678
CORNING INC COM 219350105 3,453 146,040 SH   SOLE   0 0 146,040
CRIMSON WINE GROUP COM 22662x100 112 13,061 SH   SOLE   0 0 13,061
DUFF & PHELPS UTILITY & COM 26432k108 266 27,245 SH   SOLE   0 0 27,245
GUGGENHEIM S&P 500 EQUAL WEIGH COM 78355w106 280 3,350 SH   SOLE   0 0 3,350
HOWARD HUGHES CORP COM 44267d107 5,504 48,069 SH   SOLE   0 0 48,069
LIBERTY MEDIA CORP SERIES C LI COM 531229888 189 10,927 SH   SOLE   0 0 10,927
LIBERTY MEDIA CORP SERIES C LI COM 531229854 5,923 210,485 SH   SOLE   0 0 210,485
LIBERTY MEDIA CORP SERIES C LI COM 531229607 3,671 109,879 SH   SOLE   0 0 109,879
MARKEL CORP COM 570535104 5,950 6,407 SH   SOLE   0 0 6,407
MEDTRONIC PLC F COM g5960l103 5,737 66,410 SH   SOLE   0 0 66,410
MICROSOFT CORP COM 594918104 5,402 93,801 SH   SOLE   0 0 93,801
NEW YORK REIT INC REIT COM 64976l109 97 10,632 SH   SOLE   0 0 10,632
NORTHWEST NATURAL GA COM 667655104 240 4,000 SH   SOLE   0 0 4,000
PROSHARES SHORT S&P 500 ETF NE COM 74347b425 3,881 101,954 SH   SOLE   0 0 101,954
QUALCOMM INC COM 747525103 3,038 44,360 SH   SOLE   0 0 44,360
SOLAR SENIOR CAPITAL COM 83416m105 316 19,540 SH   SOLE   0 0 19,540
TESLA MOTORS INC COM 88160r101 548 2,690 SH   SOLE   0 0 2,690
TRINET GROUP INC COM 896288107 348 16,100 SH   SOLE   0 0 16,100
VALUESHARES INTRNTNL QNTV VAL COM 02072l201 447 18,035 SH   SOLE   0 0 18,035
VALUESHARES U S QUANTITATIVE V COM 02072l102 4,389 189,450 SH   SOLE   0 0 189,450
VEREIT INC REIT COM 92339v100 132 12,787 SH   SOLE   0 0 12,787
VODAFONE GROUP F ADR 1 ADR REP COM 92857w308 4,856 166,616 SH   SOLE   0 0 166,616
WISDOMTREE FUNDAMENTAL US SHOR COM 97717x149 292 5,720 SH   SOLE   0 0 5,720
CAMBRIA GLOBAL VALUE ETF UIUS 132061409 3,214 164,611 SH   SOLE   0 0 164,611
SPDR GOLD SHARES ETF UIUS 78463v107 5,898 46,949 SH   SOLE   0 0 46,949
VANECK VECTORS GOLD MINERS ETF UIUS 92189f106 2,840 107,475 SH   SOLE   0 0 107,475
BLACKROCK CALIFORNIA MUN UHUS 09249c105 512 33,770 SH   SOLE   0 0 33,770
ISHARES 1-3 YEAR CREDIT BOND E UHUS 464288646 1,979 18,720 SH   SOLE   0 0 18,720
ISHARES CORE 1 5 YEAR USD BOND UHUS 46432f859 253 5,000 SH   SOLE   0 0 5,000
ISHARES INTERM CREDIT BOND ETF UHUS 464288638 630 5,660 SH   SOLE   0 0 5,660
SPDR NUVEEN BARCLAYS XXX REVER UHUS 78464a425 1,966 40,261 SH   SOLE   0 0 40,261