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
AEGON N V NY REGISTRY SH 007924103 41,657 5,253,131 SH   SOLE 0 5,253,131 0 0
AMERICA MOVIL SAB DE CV SPON ADR L SHS 02364W105 41,780 2,042,057 SH   SOLE 0 2,042,057 0 0
ASPEN INSURANCE HOLDINGS LTD SHS G05384105 39,703 840,632 SH   SOLE 0 840,632 0 0
BANK NEW YORK MELLON CORP COM 064058100 25,661 637,698 SH   SOLE 0 637,698 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 4,350 20 SH   SOLE 0 20 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 45,052 312,169 SH   SOLE 0 312,169 0 0
BROOKFIELD ASSET MGMT INC CL A LTD VT SH 112585104 8,257 154,020 SH   SOLE 0 154,020 0 0
CENTERSTATE BANKS INC COM 15201P109 17,299 1,452,463 SH   SOLE 0 1,452,463 0 0
CENTRAL VALLEY CMNTY BANCORP COM 155685100 10,375 945,008 SH   SOLE 0 945,008 0 0
CENVEO INC COM 15670S105 8,177 3,820,803 SH   SOLE 0 3,820,803 0 0
CHAMBERS STR PPTYS COM 157842105 43,798 5,558,103 SH   SOLE 0 5,558,103 0 0
CNA FINL CORP COM 126117100 54,136 1,306,691 SH   SOLE 0 1,306,691 0 0
CNO FINL GROUP INC COM 12621E103 35,744 2,075,738 SH   SOLE 0 2,075,738 0 0
COMCAST CORP NEW CL A 20030N101 4,893 86,643 SH   SOLE 0 86,643 0 0
COMCAST CORP NEW CL A SPL 20030N200 20,414 364,107 SH   SOLE 0 364,107 0 0
CONAGRA FOODS INC COM 205887102 16,737 458,172 SH   SOLE 0 458,172 0 0
CONSOLIDATED COMM HLDGS INC COM 209034107 13,314 652,631 SH   SOLE 0 652,631 0 0
CROWN HOLDINGS INC COM 228368106 5,940 109,958 SH   SOLE 0 109,958 0 0
DARLING INGREDIENTS INC COM 237266101 21,810 1,556,764 SH   SOLE 0 1,556,764 0 0
EXCEL TR INC COM 30068C109 26,934 1,921,107 SH   SOLE 0 1,921,107 0 0
FRANKLIN STREET PPTYS CORP COM 35471R106 30,005 2,340,462 SH   SOLE 0 2,340,462 0 0
GENERAL COMMUNICATION INC CL A 369385109 45,995 2,918,464 SH   SOLE 0 2,918,464 0 0
GRAFTECH INTL LTD COM 384313102 9,057 2,328,164 SH   SOLE 0 2,328,164 0 0
HARTFORD FINL SVCS GROUP INC COM 416515104 36,498 872,751 SH   SOLE 0 872,751 0 0
HAWAIIAN TELCOM HOLDCO INC COM 420031106 1,133 42,544 SH   SOLE 0 42,544 0 0
HERITAGE FINL CORP WASH COM 42722X106 7,004 411,994 SH   SOLE 0 411,994 0 0
ISTAR FINL INC COM 45031U101 327 25,130 SH   SOLE 0 25,130 0 0
JEFFERIES GROUP INC NEW DBCV 3.875%11/0 472319AG7 2,090 2,058,000 SH   SOLE 0 2,058,000 0 0
JOHNSON & JOHNSON COM 478160104 9,208 91,527 SH   SOLE 0 91,527 0 0
JPMORGAN CHASE & CO COM 46625H100 54,708 903,078 SH   SOLE 0 903,078 0 0
LEUCADIA NATL CORP COM 527288104 34,808 1,561,605 SH   SOLE 0 1,561,605 0 0
LIBERTY BROADBAND CORP COM SER C 530307305 255 4,511 SH   SOLE 0 4,511 0 0
LIBERTY GLOBAL PLC SHS CL A G5480U104 188 3,653 SH   SOLE 0 3,653 0 0
LIBERTY GLOBAL PLC SHS CL C G5480U120 15,538 311,952 SH   SOLE 0 311,952 0 0
LIBERTY MEDIA CORP DELAWARE CL A 531229102 487 12,629 SH   SOLE 0 12,629 0 0
LIBERTY MEDIA CORP DELAWARE COM SER C 531229300 1,095 28,660 SH   SOLE 0 28,660 0 0
LOEWS CORP COM 540424108 29,792 729,661 SH   SOLE 0 729,661 0 0
MERCK & CO INC NEW COM 58933Y105 21,995 382,660 SH   SOLE 0 382,660 0 0
METLIFE INC COM 59156R108 45,396 898,042 SH   SOLE 0 898,042 0 0
MICROSOFT CORP COM 594918104 14,984 368,566 SH   SOLE 0 368,566 0 0
NAVISTAR INTL CORP NEW COM 63934E108 10,504 356,076 SH   SOLE 0 356,076 0 0
NEFF CORP COM CL A 640094207 2,673 253,652 SH   SOLE 0 253,652 0 0
NORTHSTAR ASSET MGMT GROUP I COM 66705Y104 18,467 791,218 SH   SOLE 0 791,218 0 0
NORTHSTAR RLTY FIN CORP COM NEW 66704R704 37,438 2,066,114 SH   SOLE 0 2,066,114 0 0
NUVEEN CAL AMT-FREE MUN INC COM 670651108 5,461 365,497 SH   SOLE 0 365,497 0 0
NUVEEN CR STRATEGIES INCM FD COM SHS 67073D102 17,091 1,888,457 SH   SOLE 0 1,888,457 0 0
NUVEEN GLOBAL HIGH INCOME FD SHS 67075G103 7,657 448,543 SH   SOLE 0 448,543 0 0
OLD NATL BANCORP IND COM 680033107 33,784 2,380,820 SH   SOLE 0 2,380,820 0 0
OWENS ILL INC COM NEW 690768403 38,406 1,646,930 SH   SOLE 0 1,646,930 0 0
PARK OHIO HLDGS CORP COM 700666100 18,564 352,455 SH   SOLE 0 352,455 0 0
PEABODY ENERGY CORP SDCV 4.750%12/1 704549AG9 12,008 33,696,000 SH   SOLE 0 33,696,000 0 0
PENSKE AUTOMOTIVE GRP INC COM 70959W103 24,680 479,317 SH   SOLE 0 479,317 0 0
PEOPLES BANCORP INC COM 709789101 12,285 519,660 SH   SOLE 0 519,660 0 0
PEOPLES UNITED FINANCIAL INC COM 712704105 31,263 2,056,793 SH   SOLE 0 2,056,793 0 0
PIEDMONT OFFICE REALTY TR IN COM CL A 720190206 41,843 2,248,403 SH   SOLE 0 2,248,403 0 0
PROSPERITY BANCSHARES INC COM 743606105 12,976 247,260 SH   SOLE 0 247,260 0 0
REDWOOD TR INC COM 758075402 1,059 59,261 SH   SOLE 0 59,261 0 0
RENEWABLE ENERGY GROUP INC COM NEW 75972A301 3,352 363,506 SH   SOLE 0 363,506 0 0
RENEWABLE ENERGY GROUP INC MTNF 2.750% 6/1 75972AAA1 24,247 25,993,000 SH   SOLE 0 25,993,000 0 0
ROCK-TENN CO CL A 772739207 34,838 540,117 SH   SOLE 0 540,117 0 0
RUSH ENTERPRISES INC CL A 781846209 1,712 62,577 SH   SOLE 0 62,577 0 0
SANDRIDGE ENERGY INC COM 80007P307 1,621 910,511 SH   SOLE 0 910,511 0 0
SEABOARD CORP COM 811543107 40,370 9,770 SH   SOLE 0 9,770 0 0
SIERRA BANCORP COM 82620P102 15,410 922,775 SH   SOLE 0 922,775 0 0
SUPERVALU INC COM 868536103 349 30,000 SH   SOLE 0 30,000 0 0
TELEPHONE & DATA SYS INC COM NEW 879433829 11,465 460,456 SH   SOLE 0 460,456 0 0
TITAN MACHY INC NOTE 3.750% 5/0 88830RAB7 13,103 18,952,000 SH   SOLE 0 18,952,000 0 0
TRADE STR RESIDENTIAL INC COM NEW 89255N203 14,024 1,958,703 SH   SOLE 0 1,958,703 0 0
TRAVELERS COMPANIES INC COM 89417E109 48,508 448,609 SH   SOLE 0 448,609 0 0
U S GEOTHERMAL INC COM 90338S102 3,544 7,419,877 SH   SOLE 0 7,419,877 0 0
VALERO ENERGY CORP NEW COM 91913Y100 72,637 1,141,737 SH   SOLE 0 1,141,737 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 20,011 411,493 SH   SOLE 0 411,493 0 0
VODAFONE GROUP PLC NEW SPNSR ADR NO PAR 92857W308 18,903 578,412 SH   SOLE 0 578,412 0 0
WELLS FARGO & CO NEW COM 949746101 24,228 445,371 SH   SOLE 0 445,371 0 0
XL GROUP PLC SHS G98290102 41,330 1,123,100 SH   SOLE 0 1,123,100 0 0