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 46,715 5,077,681 SH   SOLE 0 5,077,681 0 0
AMERICA MOVIL SAB DE CV SPON ADR L SHS 02364W105 43,671 2,196,732 SH   SOLE 0 2,196,732 0 0
ARCHER DANIELS MIDLAND CO COM 039483102 13,932 321,099 SH   SOLE 0 321,099 0 0
ASPEN INSURANCE HOLDINGS LTD SHS G05384105 29,348 739,242 SH   SOLE 0 739,242 0 0
BANK NEW YORK MELLON CORP COM 064058100 44,281 1,254,768 SH   SOLE 0 1,254,768 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 3,747 20 SH   SOLE 0 20 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 46,075 368,692 SH   SOLE 0 368,692 0 0
BP PLC SPONSORED ADR 055622104 34,311 713,328 SH   SOLE 0 713,328 0 0
BROOKFIELD ASSET MGMT INC CL A LTD VT SH 112585104 13,227 323,785 SH   SOLE 0 323,785 0 0
CENTERSTATE BANKS INC COM 15201P109 1,807 165,490 SH   SOLE 0 165,490 0 0
CENTRAL VALLEY CMNTY BANCORP COM 155685100 2,432 211,335 SH   SOLE 0 211,335 0 0
CENVEO INC COM 15670S105 12,021 3,954,392 SH   SOLE 0 3,954,392 0 0
CHAMBERS STR PPTYS COM 157842105 41,645 5,359,687 SH   SOLE 0 5,359,687 0 0
CISCO SYS INC COM 17275R102 8,243 367,734 SH   SOLE 0 367,734 0 0
CNA FINL CORP COM 126117100 54,241 1,269,696 SH   SOLE 0 1,269,696 0 0
CNO FINL GROUP INC COM 12621E103 38,794 2,143,333 SH   SOLE 0 2,143,333 0 0
COMCAST CORP NEW CL A 20030N101 6,254 124,990 SH   SOLE 0 124,990 0 0
COMCAST CORP NEW CL A SPL 20030N200 25,232 517,359 SH   SOLE 0 517,359 0 0
CROWN HOLDINGS INC COM 228368106 7,408 165,579 SH   SOLE 0 165,579 0 0
DARLING INTL INC COM 237266101 11,662 582,528 SH   SOLE 0 582,528 0 0
EXCEL TR INC COM 30068C109 42,506 3,352,192 SH   SOLE 0 3,352,192 0 0
FRANKLIN STREET PPTYS CORP COM 35471R106 8,823 700,207 SH   SOLE 0 700,207 0 0
GENERAL COMMUNICATION INC CL A 369385109 33,224 2,911,789 SH   SOLE 0 2,911,789 0 0
GRAFTECH INTL LTD COM 384313102 372 34,074 SH   SOLE 0 34,074 0 0
HARTFORD FINL SVCS GROUP INC COM 416515104 50,992 1,445,766 SH   SOLE 0 1,445,766 0 0
HAWAIIAN TELCOM HOLDCO INC COM 420031106 696 24,445 SH   SOLE 0 24,445 0 0
ISTAR FINL INC COM 45031U101 371 25,130 SH   SOLE 0 25,130 0 0
JEFFERIES GROUP INC NEW DBCV 3.875%11/0 472319AG7 2,171 2,015,000 SH   SOLE 0 2,015,000 0 0
JOHNSON & JOHNSON COM 478160104 10,964 111,617 SH   SOLE 0 111,617 0 0
JPMORGAN CHASE & CO COM 46625H100 51,968 855,999 SH   SOLE 0 855,999 0 0
LEUCADIA NATL CORP COM 527288104 36,383 1,299,403 SH   SOLE 0 1,299,403 0 0
LIBERTY GLOBAL PLC SHS CL A G5480U104 157 3,766 SH   SOLE 0 3,766 0 0
LIBERTY GLOBAL PLC SHS CL C G5480U120 12,987 319,002 SH   SOLE 0 319,002 0 0
LIBERTY MEDIA CORP DELAWARE CL A 531229102 4,542 34,745 SH   SOLE 0 34,745 0 0
LIVE NATION ENTERTAINMENT IN NOTE 2.875% 7/1 538034AB5 8,373 8,271,000 SH   SOLE 0 8,271,000 0 0
LOEWS CORP COM 540424108 29,907 678,924 SH   SOLE 0 678,924 0 0
MERCK & CO INC NEW COM 58933Y105 17,435 307,114 SH   SOLE 0 307,114 0 0
METLIFE INC COM 59156R108 41,185 780,027 SH   SOLE 0 780,027 0 0
METLIFE INC UNIT 99/99/9999 59156R116 6,356 207,162 SH   SOLE 0 207,162 0 0
MICROSOFT CORP COM 594918104 22,863 557,760 SH   SOLE 0 557,760 0 0
NAVISTAR INTL CORP NEW COM 63934E108 3,892 114,921 SH   SOLE 0 114,921 0 0
NAVISTAR INTL CORP NEW NOTE 3.000%10/1 63934EAL2 3,059 3,023,000 SH   SOLE 0 3,023,000 0 0
NEWBRIDGE BANCORP CL A NO PAR 65080T102 610 85,392 SH   SOLE 0 85,392 0 0
NORTHSTAR RLTY FIN CORP COM 66704R100 69,428 4,301,582 SH   SOLE 0 4,301,582 0 0
NUVEEN CA SELECT TAX FREE PR SH BEN INT 67063R103 1,268 88,949 SH   SOLE 0 88,949 0 0
NUVEEN CAL AMT-FREE MUN INC COM 670651108 4,964 373,231 SH   SOLE 0 373,231 0 0
NUVEEN CR STRATEGIES INCM FD COM SHS 67073D102 4,669 490,975 SH   SOLE 0 490,975 0 0
NUVEEN DIVER CURRENCY OPPOR COM 67090N109 12,802 1,220,428 SH   SOLE 0 1,220,428 0 0
OWENS ILL INC COM NEW 690768403 43,827 1,295,500 SH   SOLE 0 1,295,500 0 0
PARK OHIO HLDGS CORP COM 700666100 22,946 408,660 SH   SOLE 0 408,660 0 0
PEABODY ENERGY CORP SDCV 4.750%12/1 704549AG9 11,023 13,719,000 SH   SOLE 0 13,719,000 0 0
PENSKE AUTOMOTIVE GRP INC COM 70959W103 6,221 145,485 SH   SOLE 0 145,485 0 0
PIEDMONT OFFICE REALTY TR IN COM CL A 720190206 39,795 2,320,424 SH   SOLE 0 2,320,424 0 0
REDWOOD TR INC COM 758075402 3,531 174,115 SH   SOLE 0 174,115 0 0
ROCK-TENN CO CL A 772739207 34,057 322,598 SH   SOLE 0 322,598 0 0
SAFEWAY INC COM NEW 786514208 44,103 1,193,897 SH   SOLE 0 1,193,897 0 0
SANDRIDGE ENERGY INC COM 80007P307 10,434 1,699,296 SH   SOLE 0 1,699,296 0 0
SEABOARD CORP COM 811543107 12,030 4,589 SH   SOLE 0 4,589 0 0
SIERRA BANCORP COM 82620P102 11,700 734,921 SH   SOLE 0 734,921 0 0
SUPERVALU INC COM 868536103 316 46,250 SH   SOLE 0 46,250 0 0
TENET HEALTHCARE CORP COM NEW 88033G407 12,685 296,304 SH   SOLE 0 296,304 0 0
TESORO CORP COM 881609101 27,463 542,861 SH   SOLE 0 542,861 0 0
TITAN MACHY INC NOTE 3.750% 5/0 88830RAB7 7,040 8,231,000 SH   SOLE 0 8,231,000 0 0
TOWER GROUP INTL LTD COM G8988C105 7,318 2,710,437 SH   SOLE 0 2,710,437 0 0
TRADE STR RESIDENTIAL INC COM NEW 89255N203 17,300 2,282,331 SH   SOLE 0 2,282,331 0 0
TRAVELERS COMPANIES INC COM 89417E109 40,020 470,268 SH   SOLE 0 470,268 0 0
VALERO ENERGY CORP NEW COM 91913Y100 58,691 1,105,300 SH   SOLE 0 1,105,300 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 19,380 407,407 SH   SOLE 0 407,407 0 0
VODAFONE GROUP PLC NEW SPONS ADR NEW DELETED 92857W209 25,066 680,953 SH   SOLE 0 680,953 0 0
WASHINGTON BKG CO OAK HBR WA COM 937303105 952 53,566 SH   SOLE 0 53,566 0 0
WELLS FARGO & CO NEW COM 949746101 31,779 638,897 SH   SOLE 0 638,897 0 0
XEROX CORP COM 984121103 10,378 918,367 SH   SOLE 0 918,367 0 0
XL GROUP PLC SHS G98290102 37,328 1,194,509 SH   SOLE 0 1,194,509 0 0