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
GANNETT CO INC COM 36473H104 480 56,325 SH   SOLE   56,325 0 0
SEMPRA ENERGY COM 816851109 413 3,818 SH   SOLE   3,818 0 0
NAVIOS MARITIME PARTNERS L P UNIT LPI Y62267102 20 23,693 SH   SOLE   23,693 0 0
AMERICAS CAR MART INC COM 03062T105 220 3,030 SH   SOLE   3,030 0 0
JOHNSON & JOHNSON COM 478160104 3,133 24,279 SH   SOLE   24,279 0 0
DISCOVERY INC COM SER C 25470F302 909 39,373 SH   SOLE   39,373 0 0
COVANTA HLDG CORP COM 22282E102 540 40,250 SH   SOLE   40,250 0 0
VANGUARD WHITEHALL FDS INC INTL DVD ETF 921946810 278 4,820 SH   SOLE   4,820 0 0
COSTCO WHSL CORP NEW COM 22160K105 505 2,479 SH   SOLE   2,479 0 0
CROSS TIMBERS RTY TR TR UNIT 22757R109 1,425 130,483 SH   SOLE   130,483 0 0
PERMIAN BASIN RTY TR UNIT BEN INT 714236106 410 69,650 SH   SOLE   69,650 0 0
SABINE ROYALTY TR UNIT BEN INT 785688102 1,391 37,484 SH   SOLE   37,484 0 0
LIBERTY MEDIA CORP DELAWARE COM C BRAVES GRP 531229888 245 9,841 SH   SOLE   9,841 0 0
PROCTER AND GAMBLE CO COM 742718109 395 4,294 SH   SOLE   4,294 0 0
COCA COLA CO COM 191216100 2,252 47,568 SH   SOLE   47,568 0 0
OCCIDENTAL PETE CORP DEL COM 674599105 516 8,407 SH   SOLE   8,407 0 0
INTEL CORP COM 458140100 384 8,191 SH   SOLE   8,191 0 0
CLOROX CO DEL COM 189054109 231 1,500 SH   SOLE   1,500 0 0
AMERCO COM 023586100 1,659 5,056 SH   SOLE   5,056 0 0
TIDEWATER INC NEW COM 88642R109 1,204 62,960 SH   SOLE   62,960 0 0
SANOFI SPONSORED ADR 80105N105 239 5,500 SH   SOLE   5,500 0 0
MERCK & CO INC COM 58933Y105 333 4,354 SH   SOLE   4,354 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 383 1,534 SH   SOLE   1,534 0 0
EMERSON ELEC CO COM 291011104 1,463 24,485 SH   SOLE   24,484 0 0
AMERICAN NATL INS CO COM 028591105 1,538 12,088 SH   SOLE   12,088 0 0
ANNALY CAP MGMT INC COM 035710409 182 18,500 SH   SOLE   18,500 0 0
ALASKA AIR GROUP INC COM 011659109 249 4,100 SH   SOLE   4,100 0 0
CORNING INC COM 219350105 463 15,320 SH   SOLE   15,320 0 0
CONTURA ENERGY INC COM 21241B100 517 7,868 SH   SOLE   7,868 0 0
BANK NEW YORK MELLON CORP COM 064058100 4,073 86,540 SH   SOLE   86,540 0 0
TEGNA INC COM 87901J105 1,446 133,005 SH   SOLE   133,005 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 312 5,552 SH   SOLE   5,552 0 0
PEPSICO INC COM 713448108 350 3,171 SH   SOLE   3,171 0 0
RAMACO RES INC COM 75134P303 55 11,100 SH   SOLE   11,100 0 0
C&J ENERGY SVCS INC NEW COM 12674R100 412 30,495 SH   SOLE   30,495 0 0
MARATHON OIL CORP COM 565849106 635 44,266 SH   SOLE   44,266 0 0
US BANCORP DEL COM NEW 902973304 725 15,869 SH   SOLE   15,869 0 0
BRIGHTHOUSE FINL INC COM 10922N103 367 12,033 SH   SOLE   12,033 0 0
DOWDUPONT INC COM 26078J100 2,039 38,130 SH   SOLE   38,130 0 0
SOUTHERN CO COM 842587107 409 9,303 SH   SOLE   9,302 0 0
BROADRIDGE FINL SOLUTIONS IN COM 11133T103 1,837 19,090 SH   SOLE   19,090 0 0
CENOVUS ENERGY INC COM 15135U109 245 34,820 SH   SOLE   34,820 0 0
CARS COM INC COM 14575E105 884 41,103 SH   SOLE   41,103 0 0
ENSCO PLC SHS CLASS A G3157S106 289 81,201 SH   SOLE   81,201 0 0
PATTERSON UTI ENERGY INC COM 703481101 364 35,125 SH   SOLE   35,125 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 53,380 261,436 SH   SOLE   261,436 0 0
WEYERHAEUSER CO COM 962166104 525 24,039 SH   SOLE   24,039 0 0
SOLAR CAP LTD COM 83413U100 226 11,763 SH   SOLE   11,763 0 0
COMCAST CORP NEW CL A 20030N101 347 10,177 SH   SOLE   10,177 0 0
MICROSOFT CORP COM 594918104 6,022 59,289 SH   SOLE   59,289 0 0
CANADIAN NAT RES LTD COM 136385101 536 22,197 SH   SOLE   22,197 0 0
JEFFERIES FINL GROUP INC COM 47233W109 9,744 561,276 SH   SOLE   561,276 0 0
V F CORP COM 918204108 542 7,600 SH   SOLE   7,600 0 0
SOLITARIO ZINC CORP COM 8342EP107 3 14,300 SH   SOLE   14,300 0 0
ST JOE CO COM 790148100 474 36,001 SH   SOLE   36,001 0 0
MONMOUTH REAL ESTATE INVT CO CL A 609720107 711 57,340 SH   SOLE   57,340 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 2,448 8 SH   SOLE   8 0 0
ROYCE MICRO-CAP TR INC COM 780915104 1,082 145,782 SH   SOLE   145,781 0 0
ARGO GROUP INTL HLDGS LTD COM G0464B107 316 4,700 SH   SOLE   4,700 0 0
ISTAR INC COM 45031U101 907 98,890 SH   SOLE   98,890 0 0
TEJON RANCH CO COM 879080109 241 14,562 SH   SOLE   14,562 0 0
VANGUARD INTL EQUITY INDEX F FTSE EUROPE ETF 922042874 300 6,165 SH   SOLE   6,165 0 0
BROOKFIELD ASSET MGMT INC CL A LTD VT SH 112585104 811 21,151 SH   SOLE   21,151 0 0
METHANEX CORP COM 59151K108 423 8,800 SH   SOLE   8,800 0 0
GENERAL AMERN INVS INC COM 368802104 3,141 110,449 SH   SOLE   110,449 0 0
GOLUB CAP BDC INC COM 38173M102 476 28,864 SH   SOLE   28,864 0 0
INVESCO EXCHANGE TRADED FD T S&P500 EQL WGT 46137V357 215 2,351 SH   SOLE   2,351 0 0
TAHOE RES INC COM 873868103 54 14,900 SH   SOLE   14,900 0 0
AIR PRODS & CHEMS INC COM 009158106 593 3,703 SH   SOLE   3,703 0 0
MEDLEY CAP CORP COM 58503F106 94 35,398 SH   SOLE   35,398 0 0
PICO HLDGS INC COM NEW 693366205 1,318 144,238 SH   SOLE   144,237 0 0
UNITED SECURITY BANCSHARES C COM 911460103 202 21,049 SH   SOLE   21,049 0 0
OAK VALLEY BANCORP OAKDALE C COM 671807105 414 22,600 SH   SOLE   22,600 0 0
AERCAP HOLDINGS NV SHS N00985106 347 8,769 SH   SOLE   8,769 0 0
SOURCE CAP INC COM 836144105 1,920 58,972 SH   SOLE   58,971 0 0
RPC INC COM 749660106 4,135 418,948 SH   SOLE   418,948 0 0
FREEPORT-MCMORAN INC CL B 35671D857 114 11,054 SH   SOLE   11,054 0 0
SYSCO CORP COM 871829107 790 12,609 SH   SOLE   12,609 0 0
ENTERGY CORP NEW COM 29364G103 527 6,122 SH   SOLE   6,122 0 0
CATHAY GEN BANCORP COM 149150104 352 10,500 SH   SOLE   10,500 0 0
EURONAV NV ANTWERPEN SHS B38564108 263 37,899 SH   SOLE   37,899 0 0
OAKTREE CAP GROUP LLC UNIT CL A 674001201 588 14,798 SH   SOLE   14,798 0 0
ABERDEEN EMRG MRKTS EQT INM COM 00301W105 535 84,199 SH   SOLE   84,199 0 0
ROYCE VALUE TR INC COM 780910105 1,113 94,344 SH   SOLE   94,343 0 0
CONSOLIDATED TOMOKA LD CO COM 210226106 1,582 30,140 SH   SOLE   30,140 0 0
ENZO BIOCHEM INC COM 294100102 50 18,100 SH   SOLE   18,100 0 0
CELGENE CORP COM 151020104 218 3,400 SH   SOLE   3,400 0 0
GEOSPACE TECHNOLOGIES CORP COM 37364X109 393 38,095 SH   SOLE   38,095 0 0
CAPITAL PRODUCT PARTNERS L P COM UNIT LP Y11082107 23 11,018 SH   SOLE   11,018 0 0
METLIFE INC COM 59156R108 427 10,402 SH   SOLE   10,402 0 0
NOVARTIS A G SPONSORED ADR 66987V109 627 7,306 SH   SOLE   7,306 0 0
TOTAL S A SPONSORED ADR 89151E109 459 8,801 SH   SOLE   8,801 0 0
MCDERMOTT INTL INC COM 580037703 344 52,606 SH   SOLE   52,606 0 0
CIMAREX ENERGY CO COM 171798101 2,627 42,604 SH   SOLE   42,603 0 0
WHITE MTNS INS GROUP LTD COM G9618E107 24,346 28,385 SH   SOLE   28,385 0 0
MOHAWK INDS INC COM 608190104 2,051 17,535 SH   SOLE   17,535 0 0
ENBRIDGE INC COM 29250N105 374 12,049 SH   SOLE   12,049 0 0
ZOETIS INC CL A 98978V103 264 3,086 SH   SOLE   3,086 0 0
BLACKSTONE GROUP L P COM UNIT LTD 09253U108 426 14,300 SH   SOLE   14,300 0 0
HALLADOR ENERGY COMPANY COM 40609P105 84 16,659 SH   SOLE   16,659 0 0
OFG BANCORP COM 67103X102 375 22,800 SH   SOLE   22,800 0 0
BLACKSTONE MTG TR INC COM CL A 09257W100 493 15,475 SH   SOLE   15,475 0 0
GENERAL DYNAMICS CORP COM 369550108 566 3,600 SH   SOLE   3,600 0 0
CISCO SYS INC COM 17275R102 693 16,000 SH   SOLE   16,000 0 0
LIBERTY GLOBAL PLC SHS CL C G5480U120 243 11,791 SH   SOLE   11,791 0 0
APACHE CORP COM 037411105 312 11,889 SH   SOLE   11,889 0 0
LENNAR CORP CL B 526057302 1,176 37,536 SH   SOLE   37,536 0 0
AT&T INC COM 00206R102 1,176 41,196 SH   SOLE   41,196 0 0
CONTANGO OIL & GAS COMPANY COM NEW 21075N204 114 35,093 SH   SOLE   35,093 0 0
NOBLE CORP PLC SHS USD G65431101 126 48,075 SH   SOLE   48,075 0 0
DIAMOND OFFSHORE DRILLING IN COM 25271C102 569 60,311 SH   SOLE   60,311 0 0
WELLS FARGO CO NEW COM 949746101 823 17,868 SH   SOLE   17,868 0 0
SCRIPPS E W CO OHIO CL A NEW 811054402 495 31,458 SH   SOLE   31,458 0 0
DORCHESTER MINERALS LP COM UNIT 25820R105 1,010 68,976 SH   SOLE   68,976 0 0
JPMORGAN CHASE & CO COM 46625H100 203 2,082 SH   SOLE   2,082 0 0
WESTAMERICA BANCORPORATION COM 957090103 3,465 62,233 SH   SOLE   62,233 0 0
INTL PAPER CO COM 460146103 537 13,300 SH   SOLE   13,300 0 0
HARTFORD FINL SVCS GROUP INC COM 416515104 410 9,227 SH   SOLE   9,227 0 0
CHEVRON CORP NEW COM 166764100 1,402 12,888 SH   SOLE   12,888 0 0
CONOCOPHILLIPS COM 20825C104 1,599 25,649 SH   SOLE   25,649 0 0
MARKEL CORP COM 570535104 16,497 15,892 SH   SOLE   15,892 0 0
BANK AMER CORP COM 060505104 356 14,463 SH   SOLE   14,463 0 0
INTERNATIONAL BUSINESS MACHS COM 459200101 982 8,642 SH   SOLE   8,641 0 0
PFIZER INC COM 717081103 442 10,136 SH   SOLE   10,136 0 0
AMERICAN EXPRESS CO COM 025816109 785 8,238 SH   SOLE   8,238 0 0
AMGEN INC COM 031162100 1,157 5,946 SH   SOLE   5,945 0 0
APPLIED MATLS INC COM 038222105 401 12,234 SH   SOLE   12,234 0 0
TCW STRATEGIC INCOME FUND IN COM 872340104 237 45,033 SH   SOLE   45,033 0 0
SAN JUAN BASIN RTY TR UNIT BEN INT 798241105 735 153,092 SH   SOLE   153,092 0 0
NOW INC COM 67011P100 2,416 207,561 SH   SOLE   207,561 0 0
VANGUARD GROUP DIV APP ETF 921908844 1,693 17,289 SH   SOLE   17,289 0 0
ENSTAR GROUP LIMITED SHS G3075P101 11,926 71,172 SH   SOLE   71,172 0 0
ANTERO RES CORP COM 03674X106 348 37,011 SH   SOLE   37,011 0 0
LIBERTY MEDIA CORP DELAWARE COM SER C FRMLA 531229854 482 15,706 SH   SOLE   15,706 0 0
DAILY JOURNAL CORP COM 233912104 208 889 SH   SOLE   889 0 0
LIBERTY BROADBAND CORP COM SER C 530307305 482 6,694 SH   SOLE   6,694 0 0
CALIFORNIA RES CORP COM NEW 13057Q206 1,533 89,967 SH   SOLE   89,967 0 0
CNA FINL CORP COM 126117100 1,468 33,256 SH   SOLE   33,256 0 0
HELMERICH & PAYNE INC COM 423452101 1,838 38,330 SH   SOLE   38,330 0 0
PNC FINL SVCS GROUP INC COM 693475105 649 5,550 SH   SOLE   5,550 0 0
GRAHAM HLDGS CO COM 384637104 400 625 SH   SOLE   625 0 0
W R BERKLEY CORPORATION COM 084423102 15,682 212,183 SH   SOLE   212,182 0 0
LOEWS CORP COM 540424108 14,879 326,863 SH   SOLE   326,862 0 0
SPROTT FOCUS TR INC COM 85208J109 97 16,837 SH   SOLE   16,837 0 0
EXXON MOBIL CORP COM 30231G102 588 8,630 SH   SOLE   8,629 0 0
KEMPHARM INC COM 488445107 25 14,245 SH   SOLE   14,245 0 0
VODAFONE GROUP PLC NEW SPONSORED ADR 92857W308 361 18,714 SH   SOLE   18,714 0 0
CABLE ONE INC COM 12685J105 513 625 SH   SOLE   625 0 0
PAYPAL HLDGS INC COM 70450Y103 561 6,673 SH   SOLE   6,673 0 0
SCHWAB CHARLES CORP NEW COM 808513105 1,966 47,335 SH   SOLE   47,334 0 0
APPLE INC COM 037833100 1,670 10,589 SH   SOLE   10,589 0 0
ABBOTT LABS COM 002824100 2,211 30,570 SH   SOLE   30,569 0 0
ALLEGHANY CORP DEL COM 017175100 23,924 38,381 SH   SOLE   38,381 0 0
FAIRFAX FINL HLDGS LTD SUB VTG Stock 303901102 11,770 26,727 SH   SOLE   26,727 0 0