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
AMDOCS LTD SHS CS G02602103 20,788 317,474 SH   SOLE   317,474 0 0
APPLE INC COM CS 037833100 3,206 18,943 SH   SOLE   18,943 0 0
BALDWIN & LYONS INC CL B CS 057755209 24,596 1,026,988 SH   SOLE   1,026,988 0 0
BANK NEW YORK MELLON CORP COM CS 064058100 9,372 174,010 SH   SOLE   174,010 0 0
BERKSHIRE HATHAWAY CLASS B CS 084670702 22,397 112,990 SH   SOLE   112,990 0 0
BIGLARI HLDGS INC COM CS 08986R101 11,697 28,227 SH   SOLE   28,227 0 0
BIO RAD LABS INC CL A CS 090572207 814 3,409 SH   SOLE   3,409 0 0
CHEESECAKE FACTORY INC COM CS 163072101 14,921 309,685 SH   SOLE   309,685 0 0
CISCO SYS INC COM CS 17275R102 4,744 123,860 SH   SOLE   123,860 0 0
CONSOLIDATED TOMOKA LD CO COM CS 210226106 4,324 68,096 SH   SOLE   68,096 0 0
CUBIC CORP COM CS 229669106 383 6,493 SH   SOLE   6,493 0 0
DISCOVERY COMMUNICATNS NEW COM CS 25470F302 764 36,110 SH   SOLE   36,110 0 0
DOLLAR GEN CORP NEW COM CS 256677105 1,296 13,930 SH   SOLE   13,930 0 0
FRP HLDGS INC COM CS 30292L107 7,399 167,198 SH   SOLE   167,198 0 0
GREENHILL & CO INC COM CS 395259104 9,607 492,680 SH   SOLE   492,680 0 0
HALLMARK FINL SVCS INC EC C CS 40624Q203 2,097 201,040 SH   SOLE   201,040 0 0
ISHARES GOLD TRUST ISHARES CS 464285105 4,309 344,415 SH   SOLE   344,415 0 0
ISHARES SILVER TRUST ISHARES CS 46428Q109 781 48,845 SH   SOLE   48,845 0 0
LABORATORY CORP AMER HLDGS COM CS 50540R409 2,026 12,701 SH   SOLE   12,701 0 0
LEUCADIA NATL CORP COM CS 527288104 17,979 678,695 SH   SOLE   678,695 0 0
NET 1 UEPS TECHNOLOGIES INC CO CS 64107N206 3,227 271,428 SH   SOLE   271,428 0 0
NORTHERN TR CORP COM CS 665859104 1,145 11,465 SH   SOLE   11,465 0 0
OAKTREE CAP GROUP LLC UNIT CL CS 674001201 12,291 291,946 SH   SOLE   291,946 0 0
PATTERSON UTI ENERGY INC COM CS 703481101 13,344 579,915 SH   SOLE   579,915 0 0
SYNTEL INC COM CS 87162H103 20,355 885,389 SH   SOLE   885,389 0 0
TAPESTRY INC COM CS 876030107 1,902 42,995 SH   SOLE   42,995 0 0
TELEPHONE & DATA SYS INC COM N CS 879433829 1,457 52,404 SH   SOLE   52,404 0 0
TERADATA CORP DEL COM CS 88076W103 22,084 574,195 SH   SOLE   574,195 0 0
TETRA TECH INC NEW COM CS 88162G103 1,763 36,615 SH   SOLE   36,615 0 0
WESTERN DIGITAL CORP COM CS 958102105 10,835 136,233 SH   SOLE   136,233 0 0
WESTERN UN CO COM CS 959802109 13,372 703,432 SH   SOLE   703,432 0 0
EZCORP INC CV 302301ab2 543 528,000 PRN   SOLE   528,000 0 0