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
BANK OF AMERIC 7.25 PFD CPUS 060505682 255 214 SH   SOLE   0 0 214
ABBOTT LABORATORIES COM 002824100 2,151 48,443 SH   SOLE   0 0 48,443
ABBVIE INC COM 00287y109 4,826 74,073 SH   SOLE   0 0 74,073
ACCURAY INC COM 004397105 47 10,000 SH   SOLE   0 0 10,000
ALLEGHANY CORP DEL COM 017175100 5,156 8,390 SH   SOLE   0 0 8,390
ALPHABET INC. CLASS A COM 02079k305 3,586 4,230 SH   SOLE   0 0 4,230
ALPHABET INC. CLASS C COM 02079k107 3,821 4,607 SH   SOLE   0 0 4,607
AMERICAN INTL GROUP COM 026874784 4,726 75,713 SH   SOLE   0 0 75,713
APPLE INC COM 037833100 3,700 25,758 SH   SOLE   0 0 25,758
BANK OF AMERICA CORP COM 060505104 5,864 248,600 SH   SOLE   0 0 248,600
BERKSHIRE HATHAWAY CLASS B COM 084670702 17,658 105,943 SH   SOLE   0 0 105,943
CISCO SYSTEMS INC COM 17275r102 5,794 171,434 SH   SOLE   0 0 171,434
COHEN STEERS REIT PREFER COM 19247x100 283 14,648 SH   SOLE   0 0 14,648
CORNING INC COM 219350105 3,874 143,490 SH   SOLE   0 0 143,490
CRIMSON WINE GROUP COM 22662x100 129 12,905 SH   SOLE   0 0 12,905
DISCOVERY COMM INC CLASS C COM 25470f302 3,285 116,060 SH   SOLE   0 0 116,060
DUFF & PHELPS UTILITY & COM 26432k108 223 24,215 SH   SOLE   0 0 24,215
GUGGENHEIM S&P 500 EQUAL WEIGH COM 78355w106 304 3,350 SH   SOLE   0 0 3,350
HOWARD HUGHES CORP COM 44267d107 5,545 47,297 SH   SOLE   0 0 47,297
LIBERTY MEDIA CORP SERIES C LI COM 531229888 252 10,665 SH   SOLE   0 0 10,665
LIBERTY MEDIA CORP SERIES C LI COM 531229854 7,084 207,458 SH   SOLE   0 0 207,458
LIBERTY MEDIA CORP SERIES C LI COM 531229607 4,228 109,029 SH   SOLE   0 0 109,029
MARKEL CORP COM 570535104 6,154 6,307 SH   SOLE   0 0 6,307
MICROSOFT CORP COM 594918104 6,095 92,551 SH   SOLE   0 0 92,551
MOMNTMSHRS US QUNTITATV MOMNTM COM 02072l409 209 8,170 SH   SOLE   0 0 8,170
NEW RESIDENTIAL INVE COM 64828t201 2,352 138,560 SH   SOLE   0 0 138,560
NEW YORK REIT INC REIT COM 64976l109 103 10,632 SH   SOLE   0 0 10,632
NORTHWEST NATURAL GA COM 667655104 236 4,000 SH   SOLE   0 0 4,000
PROSHARES SHORT S&P 500 ETF NE COM 74347b425 3,516 101,954 SH   SOLE   0 0 101,954
SOLAR SENIOR CAPITAL COM 83416m105 351 19,540 SH   SOLE   0 0 19,540
TESLA INC COM 88160r101 748 2,690 SH   SOLE   0 0 2,690
TRINET GROUP INC COM 896288107 465 16,100 SH   SOLE   0 0 16,100
VALUESHARES INTRNTNL QNTV VAL COM 02072l201 625 22,130 SH   SOLE   0 0 22,130
VALUESHARES U S QUANTITATIVE V COM 02072l102 4,763 187,630 SH   SOLE   0 0 187,630
VEREIT INC COM 92339v100 108 12,787 SH   SOLE   0 0 12,787
VODAFONE GROUP F SPONSORED ADR COM 92857w308 4,267 161,482 SH   SOLE   0 0 161,482
WISDOMTREE FUNDAMENTAL US SHOR COM 97717x149 295 5,880 SH   SOLE   0 0 5,880
CAMBRIA GLOBAL VALUE ETF UIUS 132061409 3,519 159,691 SH   SOLE   0 0 159,691
SPDR GOLD SHARES ETF UIUS 78463v107 5,542 46,682 SH   SOLE   0 0 46,682
VANECK VECTORS GOLD MINERS ETF UIUS 92189f106 2,415 105,900 SH   SOLE   0 0 105,900
WISDOMTREE EMRG MRKT HG DIV ET UIUS 97717w315 3,070 75,155 SH   SOLE   0 0 75,155
BLACKROCK CALIFORNIA MUN UHUS 09249c105 511 33,770 SH   SOLE   0 0 33,770
ISHARES 1-3 YEAR CREDIT BOND E UHUS 464288646 1,969 18,720 SH   SOLE   0 0 18,720
ISHARES CORE 1 5 YEAR USD BOND UHUS 46432f859 200 4,000 SH   SOLE   0 0 4,000
ISHARES INTERM CREDIT BOND ETF UHUS 464288638 616 5,660 SH   SOLE   0 0 5,660
SCHWAB SHORT TERM US TREASURY UHUS 808524862 224 4,455 SH   SOLE   0 0 4,455
SPDR NUVEEN BARCLAYS XXX REVER UHUS 78464a425 1,749 36,111 SH   SOLE   0 0 36,111