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
AGNICO EAGLE MINES LTD CMN COM 008474108 2,666 101,080 SH   SOLE   101,080 0 0
ALPHA PRO TECH LTD CMN COM 020772109 8 3,600 SH   SOLE   3,600 0 0
AMERCO CMN COM 023586100 238 1,000 SH   SOLE   1,000 0 0
AMERICAN INTL GROUP, INC. CMN COM 026874784 5,105 100,000 SH   SOLE   100,000 0 0
AMERISOURCEBERGEN CORPORATION CMN COM 03073E105 3,867 55,000 SH   SOLE   55,000 0 0
APPLIED MATERIALS INC CMN COM 038222105 5,357 303,000 SH   SOLE   303,000 0 0
ARROW ELECTRONICS INC. CMN COM 042735100 403 7,426 SH   SOLE   7,426 0 0
THE BANCORP INC CMN COM 05969A105 1,237 69,083 SH   SOLE   69,083 0 0
BANC OF CALIFORNIA INC CMN COM 05990K106 1,341 100,000 SH   SOLE   100,000 0 0
BANK OF AMERICA CORP CMN COM 060505104 11,653 748,406 SH   SOLE   748,406 0 0
BERKSHIRE HATHAWAY INC CL-A (DEL) CLASS A COM 084670108 6,582 37 SH   SOLE   37 0 0
BIOGEN IDEC INC. CMN COM 09062X103 699 2,500 SH   SOLE   2,500 0 0
BLACKSTONE MORTGAGE TRUST INC CMN COM 09257W100 2,322 85,606 SH   SOLE   85,606 0 0
BODY CENTRAL ACQUISITION CORP. CMN COM 09689U102 4 1,000 SH   SOLE   1,000 0 0
CIT GROUP INC. CMN CLASS COM 125581801 1,282 24,600 SH   SOLE   24,600 0 0
CVS CAREMARK CORPORATION CMN COM 126650100 1,431 20,000 SH   SOLE   20,000 0 0
CELGENE CORPORATION CMN COM 151020104 708 4,190 SH   SOLE   4,190 0 0
CENTRAL SECURITIES CORP. MUTUAL FUND COM 155123102 159 7,300 SH   SOLE   7,300 0 0
CHEVRON CORPORATION CMN COM 166764100 7,357 58,900 SH   SOLE   58,900 0 0
CIBER INC CMN COM 17163B102 985 237,814 SH   SOLE   237,814 0 0
COMMUNITY WEST BANCSHARES CMN COM 204157101 33 5,000 SH   SOLE   5,000 0 0
CONTINENTAL MATERIALS CORP CMN COM 211615307 99 4,771 SH   SOLE   4,771 0 0
COOPER-STANDARD HOLDINGS INC. CMN COM 21676P103 113 2,295 SH   SOLE   2,295 0 0
D.R. HORTON, INC. CMN COM 23331A109 2,971 133,100 SH   SOLE   133,100 0 0
DST SYSTEM INC COMMON STOCK COM 233326107 907 10,000 SH   SOLE   10,000 0 0
DAEGIS INC CMN COM 233720101 6 5,000 SH   SOLE   5,000 0 0
DOVER DOWNS GAMING & ENTMT INC CMN COM 260095104 24 16,157 SH   SOLE   16,157 0 0
ELLINGTON RESIDENTIAL MORT REIT CMN COM 288578107 1,291 83,925 SH   SOLE   83,925 0 0
E Z CORP INC CL-A NON VTG CMN CLASS A COM 302301106 1,469 125,671 SH   SOLE   125,671 0 0
FTD COMPANIES, INC. CMN COM 30281V108 15 460 SH   SOLE   460 0 0
FEDERATED NATL HLDG CO CMN COM 31422T101 1,100 75,000 SH   SOLE   75,000 0 0
FEDFIRST FINANCIAL CORPORATION CMN COM 31429C101 85 4,390 SH   SOLE   4,390 0 0
FIRST CMNTY CORP S C CMN COM 319835104 201 19,301 SH   SOLE   19,301 0 0
FIRST FINL BANCORP CMN COM 320209109 1,345 77,161 SH   SOLE   77,161 0 0
FIRSTMERIT CORP CMN COM 337915102 1,774 79,791 SH   SOLE   79,791 0 0
FONAR CORPORATION CMN COM 344437405 21 1,000 SH   SOLE   1,000 0 0
FORD MOTOR COMPANY CMN COM 345370860 3,317 215,000 SH   SOLE   215,000 0 0
FORTRESS INVESTMENT GROUP LLC CMN CLASS A COM 34958B106 1,840 214,982 SH   SOLE   214,982 0 0
FULL HOUSE RESORTS CMN COM 359678109 3 1,197 SH   SOLE   1,197 0 0
GABELLI HEALTHCARE & WELLNESSR*X TRUST (THE) MUTUAL FUND COM 36246K103 113 10,925 SH   SOLE   10,925 0 0
GENERAL MOTORS COMPANY CMN COM 37045V100 817 20,000 SH   SOLE   20,000 0 0
GIBRALTAR INDUSTRIES INC CMN COM 374689107 711 38,233 SH   SOLE   38,233 0 0
GOLDMAN SACHS GROUP, INC.(THE) CMN COM 38141G104 3,360 18,954 SH   SOLE   18,954 0 0
HARVARD BIOSCIENCE INC CMN COM 416906105 29 6,200 SH   SOLE   6,200 0 0
HORSEHEAD HOLDING CORP. CMN COM 440694305 81 5,000 SH   SOLE   5,000 0 0
HUDSON GLOBAL, INC. CMN COM 443787106 19 4,845 SH   SOLE   4,845 0 0
ICAHN ENTERPRISES L.P. DEPOSITARY UNIT COM 451100101 97 888 SH   SOLE   888 0 0
IMPERIAL HOLDINGS, INC. CMN COM 452834104 79 12,100 SH   SOLE   12,100 0 0
ING AMERICA INSURANCE HOLDINGS*, INC. CMN COM 45685E106 2,777 79,000 SH   SOLE   79,000 0 0
INSPERITY INC CMN COM 45778Q107 1,116 30,879 SH   SOLE   30,879 0 0
INTERACTIVE BROKERS GROUP, INC*. CMN COM 45841N107 1,220 50,142 SH   SOLE   50,142 0 0
ISHARES MSCI JAPAN ETF ge. ETF 464286848 3,012 248,100 SH   SOLE   248,100 0 0
ISHARES RUSSELL 2000 VALUE ETF ETF 464287630 1,493 15,000 SH   SOLE   15,000 0 0
JPMORGAN CHASE & CO CMN COM 46625H100 6,965 119,100 SH   SOLE   119,100 0 0
KEMET CORPORATION CMN COM 488360207 1 100 SH   SOLE   100 0 0
LEUCADIA NATIONAL CORP CMN COM 527288104 578 20,400 SH   SOLE   20,400 0 0
LUBYS INC CMN STOCK CMN COM 549282101 7 900 SH   SOLE   900 0 0
MFC INDUSTRIAL LTD CMN COM 55278T105 27 3,373 SH   SOLE   3,373 0 0
MTS SYSTEMS CORP CMN COM 553777103 192 2,700 SH   SOLE   2,700 0 0
MVC CAPITAL INC CLOSED END FUND COM 553829102 746 55,278 SH   SOLE   55,278 0 0
MACY'S INC. CMN COM 55616P104 828 15,502 SH   SOLE   15,502 0 0
MARCHEX INC CMN CLASS B COM 56624R108 145 16,813 SH   SOLE   16,813 0 0
MATTEL, INC. CMN COM 577081102 3,854 81,000 SH   SOLE   81,000 0 0
MEDIVATION INC. CMN COM 58501N101 1,276 20,000 SH   SOLE   20,000 0 0
MERCK & CO., INC. CMN COM 58933Y105 751 15,000 SH   SOLE   15,000 0 0
MORGAN STANLEY CMN COM 617446448 6,074 193,700 SH   SOLE   193,700 0 0
MURPHY OIL CORPORATION CMN COM 626717102 4,542 70,000 SH   SOLE   70,000 0 0
NATURES SUNSHINE PRODS INC CMN COM 639027101 416 24,035 SH   SOLE   24,035 0 0
NORDSTROM INC CMN COM 655664100 62 1,000 SH   SOLE   1,000 0 0
OCCIDENTAL PETROLEUM CORP CMN COM 674599105 951 10,000 SH   SOLE   10,000 0 0
OLD REPUBLIC INTL CORP CMN COM 680223104 2,639 152,805 SH   SOLE   152,805 0 0
PACIFIC PREMIER BANCORP CMN COM 69478X105 1,281 81,391 SH   SOLE   81,391 0 0
QC HOLDINGS, INC. CMN COM 74729T101 5 2,749 SH   SOLE   2,749 0 0
RADIANT LOGISTICS INC CMN COM 75025X100 23 8,410 SH   SOLE   8,410 0 0
SPDR S&P 500 ETF TRUST ETF 78462F103 278,535 1,508,121 SH   SOLE   1,508,121 0 0
CALL/GLD @ 170 EXP 01/18/2014 CALL 78463V107 1 2 SH Call SOLE   2 0 0
CALL/GLD @ 165 EXP 01/18/2014 CALL 78463V107 1 8 SH Call SOLE   8 0 0
CALL/GLD @ 163 EXP 01/18/2014 CALL 78463V107 1 10 SH Call SOLE   10 0 0
CALL/GLD @ 164 EXP 01/18/2014 CALL 78463V107 1 10 SH Call SOLE   10 0 0
CHARLES SCHWAB CORPORATION CMN COM 808513105 6,144 236,300 SH   SOLE   236,300 0 0
SMITH & WESSON HOLDING CORP CMN COM 831756101 229 17,000 SH   SOLE   17,000 0 0
TJX COMPANIES INC (NEW) CMN COM 872540109 3,187 50,000 SH   SOLE   50,000 0 0
TOLL BROTHERS, INC. CMN COM 889478103 3,101 83,800 SH   SOLE   83,800 0 0
TRUEBLUE, INC. CMN COM 89785X101 511 19,838 SH   SOLE   19,838 0 0
TWENTY-FIRST CENTURY FOX, INC. CMN CLASS A COM 90130A101 352 10,000 SH   SOLE   10,000 0 0
TWITTER, INC. CMN COM 90184L102 382 6,000 SH   SOLE   6,000 0 0
U.S. GLOBAL INVESTORS INC A CMN COM 902952100 3 1,000 SH   SOLE   1,000 0 0
UNITED INSURANCE HOLDINGS CORP CMN COM 910710102 2,816 200,000 SH   SOLE   200,000 0 0
UNITED ONLINE, INC. CMN COM 911268209 5 328 SH   SOLE   328 0 0
UNITED PARCEL SERVICE, INC. CLASS B COMMON STOCK COM 911312106 5,053 48,091 SH   SOLE   48,091 0 0
VANGUARD SPECIALIZED PORTFOLIO VANGUARD DIVIDEND APPRECIATION MUTUAL FUND CL ETF SER VIPERS ETF 921908844 21,124 280,756 SH   SOLE   280,756 0 0
VANGUARD FTSE DEVELOPED MKTS CMN ETF ETF 921943858 18 434 SH   SOLE   434 0 0
VANGUARD FTSE ALL-WORLD EX-US INDEX FUND ETF ETF 922042775 27 542 SH   SOLE   542 0 0
VANGUARD INDEX FUNDS VANGUARD S&P 500 ETF ETF 922908363 183,124 1,082,614 SH   SOLE   1,082,614 0 0
WELLCARE HEALTH PLANS INC CMN COM 94946T106 70 1,000 SH   SOLE   1,000 0 0
WEST BANCORPORATION INC CMN COM 95123P106 257 16,225 SH   SOLE   16,225 0 0
XILINX INCORPORATED CMN COM 983919101 3,582 78,000 SH   SOLE   78,000 0 0
YAMANA GOLD INC CMN COM 98462Y100 1,348 156,352 SH   SOLE   156,352 0 0
ACCENTURE PLC CMN COM G1151C101 3,700 45,000 SH   SOLE   45,000 0 0
BLUE CAPITAL REINSURANCE HOLDI*NGS LIMITED CMN COM G1190F107 2,232 121,492 SH   SOLE   121,492 0 0
GREENLIGHT CAPITAL RE LTD-A CMN COM G4095J109 664 19,696 SH   SOLE   19,696 0 0
DHT HOLDINGS INC CMN COM Y2065G121 78 11,396 SH   SOLE   11,396 0 0