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
1/100 BERKSHIRE HTWY CLA100 SH COM 084990175 217 100 SH   SOLE   100 0 0
ABERCROMBIE & FITCH CL A COM 002896207 3,557 199,720 SH   SOLE   199,720 0 0
AMERISERV FINANCIAL INC COM 03074A102 302 100,000 SH   SOLE   100,000 0 0
ANGLOGOLD ASHANTI ADR ADR 035128206 5,273 291,961 SH   SOLE   291,961 0 0
APPLE INC COM COM 037833100 349 3,655 SH   SOLE   3,655 0 0
BANK OF UTICA NY NON VTG COM 065437204 408 1,000 SH   SOLE   1,000 0 0
BP PLC ADS ADR 055622104 3,424 96,423 SH   SOLE   96,423 0 0
BRT REALTY TRUST COM 055645303 143 20,000 SH   SOLE   20,000 0 0
BUNGE LTD COM g16962105 3,582 60,560 SH   SOLE   60,560 0 0
CERUS CORP COM 157085101 3,801 609,182 SH   SOLE   609,182 0 0
COPA HOLDINGS SA COM p31076105 3,210 61,424 SH   SOLE   61,424 0 0
CVS CAREMARK CORPORATION COM 126650100 221 2,305 SH   SOLE   2,305 0 0
DEUTSCHE BANK AG ADR ADR D18190898 2,752 200,446 SH   SOLE   200,446 0 0
DREAMWORKS ANIMATION INC COM 26153c103 5,138 125,720 SH   SOLE   125,720 0 0
EXELON CORP COM 30161n101 4,132 113,650 SH   SOLE   113,650 0 0
EXXON MOBIL CORP COM 30231G102 227 2,421 SH   SOLE   2,421 0 0
FACEBOOK INC COM 30303m102 249 2,179 SH   SOLE   2,179 0 0
FIRSTENERGY CORP COM 337932107 4,638 132,860 SH   SOLE   132,860 0 0
FLEX INTERNATIONAL LTD COM Y2573F102 4,184 354,563 SH   SOLE   354,563 0 0
FORD MOTOR CO COM 345370860 4,175 332,169 SH   SOLE   332,169 0 0
GROUPON INC COM 399473107 1,976 607,940 SH   SOLE   607,940 0 0
ISHARES GOLD TRUST ISHARES 464285105 128 10,050 SH   SOLE   10,050 0 0
M & T BANK CORP COM 55261F104 3,083 26,073 SH   SOLE   26,073 0 0
MDC HOLDING INC COM 552676108 3,685 151,401 SH   SOLE   151,401 0 0
MICRON TECHNOLOGY INC COM 595112103 3,970 288,505 SH   SOLE   288,505 0 0
MICROSOFT CORP COM 594918104 971 18,970 SH   SOLE   18,970 0 0
NEWMONT MINING CORP COM 651639106 5,292 135,285 SH   SOLE   135,285 0 0
OMEROS CORPORATION COM 682143102 283 26,890 SH   SOLE   26,890 0 0
ORANGE SA ADR ADR 684060106 4,694 285,850 SH   SOLE   285,850 0 0
PACCAR INC COM 693718108 2,638 50,860 SH   SOLE   50,860 0 0
PAN AMERICAN SILVER CORP COM 697900108 3,893 236,677 SH   SOLE   236,677 0 0
PROSHARES SHORT S&P500 ISHARES 74347b425 5,683 143,317 SH   SOLE   143,317 0 0
SCHNITZER STEEL INDUSTRIES INC COM 806882106 2,001 113,697 SH   SOLE   113,697 0 0
SEACO LTD ORD COM G79441104 0 20,000 SH   SOLE   20,000 0 0
SPDR GOLD TR GOLD SHS ISHARES 78463V107 229 1,810 SH   SOLE   1,810 0 0
ST JOE COMPANY COM 790148100 2,022 114,093 SH   SOLE   114,093 0 0
TIDEWATER INC COM 886423102 1,746 395,817 SH   SOLE   395,817 0 0
TOTAL SA ADR ADR 89151E109 3,181 66,142 SH   SOLE   66,142 0 0
UNIVERSAL CORP COM 913456109 5,041 87,308 SH   SOLE   87,308 0 0
VANGUARD TOTAL STOCK MARKET ET ISHARES 922908769 226 2,105 SH   SOLE   2,105 0 0
WAL-MART STORES INC COM 931142103 3,918 53,660 SH   SOLE   53,660 0 0
WASHINGTON FEDERAL INC COM 938824109 5,151 212,327 SH   SOLE   212,327 0 0
WESTERN UNION COMPANY COM 959802109 4,514 235,357 SH   SOLE   235,357 0 0