The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete. | |||||||||||||||||
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F INFORMATION TABLE |
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| 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 America CNV PFD L | 7.25%CNV PFD L | 060505682 | 1,065 | 989 | SH | SOLE | 989 | 0 | 0 | ||
| New York Times Cl A | CL A | 650111107 | 5,663 | 479,581 | SH | SOLE | 479,581 | 0 | 0 | ||
| American Express Co. | COM | 025816109 | 7,775 | 104,888 | SH | SOLE | 104,888 | 0 | 0 | ||
| Boeing Company | COM | 097023105 | 8,083 | 61,729 | SH | SOLE | 61,729 | 0 | 0 | ||
| Boston Scientific Corp | COM | 101137107 | 7,946 | 484,225 | SH | SOLE | 484,225 | 0 | 0 | ||
| Chesapeake Energy Corp | COM | 165167107 | 2,720 | 371,166 | SH | SOLE | 371,166 | 0 | 0 | ||
| Cisco Systems Inc. | COM | 17275R102 | 7,661 | 291,885 | SH | SOLE | 291,885 | 0 | 0 | ||
| Corning Inc. | COM | 219350105 | 6,503 | 379,882 | SH | SOLE | 379,882 | 0 | 0 | ||
| Dow Chemical Company | COM | 260543103 | 6,181 | 145,789 | SH | SOLE | 145,789 | 0 | 0 | ||
| Eli Lilly & Co. | COM | 532457108 | 7,852 | 93,833 | SH | SOLE | 93,833 | 0 | 0 | ||
| Gilead Sciences Inc. | COM | 375558103 | 6,272 | 63,879 | SH | SOLE | 63,879 | 0 | 0 | ||
| Hewlett-Packard Co | COM | 428236103 | 6,692 | 261,329 | SH | SOLE | 261,329 | 0 | 0 | ||
| Legg Mason Inc. | COM | 524901105 | 6,248 | 150,175 | SH | SOLE | 150,175 | 0 | 0 | ||
| Live Nation Entertainment, Inc | COM | 538034109 | 5,965 | 248,162 | SH | SOLE | 248,162 | 0 | 0 | ||
| MBIA Inc | COM | 55262C100 | 4,621 | 760,085 | SH | SOLE | 760,085 | 0 | 0 | ||
| Maui Land & Pineapple Co. | COM | 577345101 | 6,413 | 1,216,928 | SH | SOLE | 1,216,928 | 0 | 0 | ||
| Merck & Co. Inc. | COM | 58933Y105 | 297 | 6,023 | SH | SOLE | 6,023 | 0 | 0 | ||
| National Oilwell Varco Inc | COM | 637071101 | 4,482 | 119,065 | SH | SOLE | 119,065 | 0 | 0 | ||
| Paccar Inc. | COM | 693718108 | 5,888 | 112,865 | SH | SOLE | 112,865 | 0 | 0 | ||
| Pfizer Inc. | COM | 717081103 | 4,295 | 136,748 | SH | SOLE | 136,748 | 0 | 0 | ||
| QEP Resources, Inc. | COM | 74733V100 | 559 | 44,647 | SH | SOLE | 44,647 | 0 | 0 | ||
| Qualcomm Inc. | COM | 747525103 | 899 | 16,746 | SH | SOLE | 16,746 | 0 | 0 | ||
| Seventy Seven Energy Inc. | COM | 818097107 | 29 | 21,118 | SH | SOLE | 21,118 | 0 | 0 | ||
| Tejon Ranch Co | COM | 879080109 | 238 | 10,920 | SH | SOLE | 10,920 | 0 | 0 | ||
| WPX Energy, Inc. | COM | 98212B103 | 175 | 26,436 | SH | SOLE | 26,436 | 0 | 0 | ||
| Xerox Corporation | COM | 984121103 | 6,844 | 703,481 | SH | SOLE | 703,481 | 0 | 0 | ||
| Zimmer Biomet Holdings, Inc. | COM | 98956P102 | 2,818 | 30,002 | SH | SOLE | 30,002 | 0 | 0 | ||
| Genworth Financial Inc | COM CL A | 37247D106 | 3,860 | 835,525 | SH | SOLE | 835,525 | 0 | 0 | ||
| Calpine Corp. | COM NEW | 131347304 | 5,338 | 365,625 | SH | SOLE | 365,625 | 0 | 0 | ||
| Sprint Nextel Corp | COM SER 1 | 85207U105 | 1,957 | 509,872 | SH | SOLE | 509,872 | 0 | 0 | ||
| Mesabi Trust | CTF BEN INT | 590672101 | 2,192 | 182,871 | SH | SOLE | 182,871 | 0 | 0 | ||
| WellsFargo Pfd Series L | PERP PFD CNV A | 949746804 | 372 | 319 | SH | SOLE | 319 | 0 | 0 | ||
| Rowan Companies plc | SHS CL A | G7665A101 | 1,203 | 74,538 | SH | SOLE | 74,538 | 0 | 0 | ||
| Star Bulk Carriers Corp. | SHS NEW | Y8162K121 | 3,152 | 1,537,951 | SH | SOLE | 1,537,951 | 0 | 0 | ||